Iraqi Ministry of Planning announced Inflation rate

The Iraqi Ministry of Planning has announced the inflation rate during the month of June 2018 by 0.6% as compared to the month of May 2018. A spokesman of the ministry, Abdul-Zahra Al-Hindawi said in a press statement that the annual inflation rate has been increased by 1.7 percent as compared to the inflation rate of June 2017. The monthly inflation rate for the month of June recorded at 0.6 percent compared to the inflation rate of May. Al-Hindawi indicated that the increase was affected by the rise of the housing section by 2.4% and a significant amount of increase in clothing and shoes by 0.3%.

Inflation is rising in Iraq

The increase in the annual inflation rate was due to the increase of food and non-alcoholic beverages by 1.9 percent. Hindawi added that the clothing and footwear sector increased by 1.3 percent, the transport section by 6.8% and the education sector by 3.2%. It was also said that the process of collecting prices for the month of June didn’t include the province of Nineveh because of the conditions of the province. Last month, the Iraqi Ministry of Planning announced the inflation rate during the month of May 2018 by 0.9%.

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