Monthly and annual inflation index increased last March, Iraqi authorities reveal

Shafaq News / The Iraqi Ministry of Planning announced an increase in the inflation index for March by 0.7% and the annual rate by 4.0%.

The Ministry's spokesman, Abdul Zahra Al-Hindawi, said in an interview with Shafaq News agency, "The monthly inflation index for last March rose by 0.7% compared to the previous month," adding, "the annual inflation index also rose by 4.3% compared to the same month in 2020."

"The increase in the dollar exchange rate since mid-December of 2020 has caused the devaluation of the local currency and the rise in the prices of goods and services, as most of these local goods are imported", he pointed out. 

Al-Hindawi noted that the inflation rate has increased by about 5.6% from November 2020 until March 2021.

Last month, the Central Bureau of Statistics announced that the monthly inflation rate for February increased by 0.7%, while the annual rate increased by 4%.