Iraq’s CPI inflation decelerated to 2.1% y/y in September from 2.6% y/y the month before on slowing food and housing costs and falling transport prices, data from the statistics office showed. Favourable seasonal factors and strong harvest season coupled with lower imports helped keep food prices anchored despite strong local demand.
In monthly terms, the CPI fell 0.6% in September, swinging from a 0.7% m/m increase in August.
As to core inflation, which excludes volatile components like food and energy, it edged down to 1.7% y/y from 1.8% y/y in August on a 0.2% m/m contraction.
Prices of food and non-alcoholic beverages, which have a 30% weight in the CPI basket, fell 1.9% m/m in September cutting the annual growth to 2.5% from 4.3% y/y in August.
Fresh vegetable prices fell 5.5% m/m and those of dairy products dropped 2.8% m/m.
As to housing and utilities charges, they grew 3.2% y/y in September, ticking down from 3.3% y/y the month before. The index was lifted by higher rent prices (up 3.4% y/y in September) and utilities (up 4.8% y/y). Transport charges fell 1.7% y/y, the same as in August, on lower oil prices and high base effect. Telecom prices rose 4.8% y/y and those of education grew 5.0% y/y.
Related Articles
Egypt signs oil and gas exploration deals with Dragon Oil, Perenco and Apache worth over $121mn
Egypt’s Ministry of Petroleum and Mineral Resources signed three agreements on September 14 – with UAE-based Dragon Oil, and French independent Perenco Egypt and its US peer Apache Egypt ... more
Egypt eyes $5.2bn in manufacturing investments for FY2025/26, says planning minister
The Egyptian government plans to attract EGP 252.8bn ($5.2bn) in investments to the manufacturing sector for FY 2025/26, Economy Plus reported on September 3, citing the country’s Minister of ... more
Egypt set to receive $500mn tranche from IMF Resilience and Sustainability Facility before end-2025
Egypt is set to receive the first tranche of $500mn from the International Monetary Fund’s (IMF) Resilience and Sustainability Facility (RSF) before the end of 2025, Asharq Business reported on ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
21 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago