The annual inflation rate in Iraq is slight and does not exceed 3% – Al-Rasheed Satellite Channel

The Ministry of Planning confirmed today, Saturday, that the annual inflation rate in Iraq does not exceed 3%, pointing out that the procedures for providing the food basket and its materials in the markets also maintained prices and prevented high inflation rates.
Ministry spokesman Abdul Zahra Al-Hindawi said in an interview with the official agency, followed by Al-Rasheed: “One of the reasons for a rise in the inflation rate sometimes is the presence of a large monetary mass circulating in market and commercial transactions,” pointing out that “the annual inflation rate in Iraq is slight and does not exceed 3%”.
He added, “If we want to compare this rate with what exists in some countries, it is incomparable, as there are wild increases in it,” noting, “A rate of 3% is normal and logical in light of the Iraqi reality.”
He continued, “The measures taken by the government with regard to supporting the food basket clearly maintained prices in local markets and prevented their inflation,” pointing out, “The rise in any country increases inflation rates, but in Iraq the situation is under control thanks to government measures.”