Iraq's CPI inflation slows to 2.1% y/y in September

By bne IntelliNews November 13, 2015

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

Ankara and Tehran join wave of anger directed at Trump’s recognition of Jerusalem as Israel’s capital

US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Turkey the loser as Baghdad rewards Iran with control of Kurdish oil exports

Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more

Dismiss