Iraq's inflation rate drops to 4% in 2024

Shafaq News/ Iraq's economy has shown signs of improvement in 2024, as reflected by the country's decreasing inflation rate, following a period of fluctuations over the past few years, with the government and regulatory bodies taking steps to stabilize the economic environment.

The annual inflation rate in Iraq for 2024 has declined to 4%, marking a significant improvement from the 6.042% recorded in the previous year, as reported by the American magazine "Global Finance".

In 2020, the inflation rate decreased by 0.574%, but saw an increase in 2021 to 6.042%. However, this was followed by another decrease in 2022 to 4.987%.

The inflation rate is a crucial economic indicator that reflects the impact of various activities within the country. It necessitates continuous monitoring and scrutiny by regulatory bodies to ensure the accuracy and reliability of the data, providing a true representation of the economic reality in Iraq.