Iraq inflation slightly higher in October 2013

Posted: December 27, 2013 in Iraqi Dinar/Politics

Planning: Inflation for the months of October and reached the second (6.1), which is controlled

Revealed the Iraqi Ministry of Planning, said Friday that the inflation index for the months of October and reached the second (6.1), usually it is “slightly higher controlled,” There is no fear of inflation relative situations.

He said ministry spokesman Abdul Zahra al-Hindawi said in an interview to the (long-Presse), said that “the competent authorities in the ministry monitored by teams in the Iraqi market, high inflation rate (6.1) for food and soft drinks, as well as high housing by (2.5), in the month of October The first and the first days of the month of November. ”

Hindawi explained that “this increase can be described Balotfiv, and there is no fear of it,” pointing out that “inflation rose at rates are few and tend to be stable, and this is due to two important issues are the high value of the dinar, as well as the country emerges from Chapter VII, and the Ministry of Planning can control it easily. ”

The Central Agency for Statistics and Information Technology through January 2012, it will begin using mechanization in the collection of various prices and times of a specific time rather than paper form in place previously, emphasizing that it will contribute to the speed of price collection and accuracy, and correct calculation in case of errors.

He was an economist said on Wednesday (18 December 2013), that the Iraqi market “still fragile” and unable to compete with their counterparts in the region or attract investors, while showed the Ministry of Commerce that it has started a plan that would “set the market and inflation and prevent monopoly” , soon expected to result in a “qualitative motionless,” especially after rid Iraq of Chapter VII.

The UN Security Council voted in (the 27 of June 2013), a unanimous decision to remove Iraq from Chapter VII after more than two decades of sanctions imposed by the Council which, after the former regime’s invasion of Kuwait in August of 1990.

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