Annual inflation drops 0.3% in Iraq

Shafaq News – Baghdad

Iraq’s monthly inflation rate rose by 0.1% in October, while the annual rate declined by 0.3%, the Iraq Future Foundation for Economic Studies and Consultancy reported on Thursday.

The data showed declines across key goods and services, including food, beverages, clothing, footwear, household appliances, telecommunications, restaurants, hotels, recreation, and culture.

While lower prices benefit consumers, the report cautioned that declining inflation may also indicate a slowdown in economic activity. The foundation urged linking inflation trends to broader indicators such as GDP growth, job creation, unemployment, and business performance.

Economic expert and foundation head Manar al-Obaidi noted that analyzing these figures helps determine whether the drop in inflation is the result of economic stagnation or genuine reform.

Earlier, Iraq’s Ministry of Planning announced a slight monthly increase in inflation for September.