Statistics predict inflation rate in Iraq to reach 2% by 2028

Shafaq News / Statista, a German company which specializes in market and consumer data, has predicted that the annual inflation rate in Iraq will reach an average of 2% by 2028.

According to a table released by the company, the average inflation rate in Iraq is expected to reach around 2% in 2028, down from 6.63% in 2023.

The company also stated that "the average inflation rate in Iraq will decrease by a total of 4.6 percentage points between 2023 and 2028," adding that "the overall decrease is not continuous, especially in 2025 and 2026, where it will reach 2.22% and 2.3%, respectively."

The company highlighted that "the annual inflation rate in Iraq is expected to rise to its highest level of 6.63% in 2023 compared to the past 15 years." It also noted that "the average annual inflation rate for 2024 is expected to be 1.62%."

Inflation is the continuous rise in the general level of prices in an economy over time.