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Despite decreasing Inflation rates, Prices of Basic commodities continue to rise in Iraq

Category: Economy

Date: 2021-06-20T06:12:39+0000
Despite decreasing Inflation rates, Prices of Basic commodities continue to rise in Iraq
Shafaq News/ A spokesperson for the Ministry of Planning revealed today, Sunday, a slight decrease in the prices of the food and non-alcoholic beverages (0.3%), but a slight increase (0.04%) in the monthly inflation rate in May.

 In a statement received by Shafaq News Agency, the spokesperson for the Ministry of Planning, Abdul-Zahra al-Hindawi, attributed the drop in food prices to the decrease in the prices of milk, cheese, and eggs by (1.9%) and vegetables by (1.8%), adding that the Central Bureau of Statistics continued to monitor prices nationwide.

Al-Hindawi said that the tobacco prices registered an increase by 1.9% in May, compared to April, while the prices of clothes and shoes recorded a slight increase by 0.2%. Housing expenses declined by 0.2% because of a decrease in rents by 0.6%, contrasted by a 0.2% rise in the prices of Home Supplies, Equipment, and Maintenance. 

Education and transport maintained the same levels as in April. The price of catering and restaurants rose by 0.1%, while miscellaneous goods and services increased by 1.5%. Communication department inched up by 0.3%, while entertainment went 1.5% higher. 

 Al-Hindawi noted that the inflation index accumulated a 5.6% rise since December 2020.

 Since changing the exchange rate of the U.S. dollar, the inflation index has been on the rise. In December, according to the Ministry of Planning, it jumped 3.3%. In January and February 2021, it added 0.8% and 0.7%, respectively. In March, the inflation index increased by 0.6%, but it retreated to 0.1% in April.

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