Iraqi Dinar Discussion Board

[Marcelno]

Inflation rate down by 1.2 % in May- COSIT
June 21, 2009 - 08:41:23

BAGHDAD / Aswat al-Iraq: Iraq’s inflation rate fell by 1.2 percent in May 2009 compared to the previous month, according to the Central Organization for Statistics and Information Technology (COSIT).

“The results showed a 1.2 percent decrease in the inflation rate for May 2009, which it linked to a reduction in the consumer price index (CPI),” according to a statement received by Aswat al-Iraq news agency.
Prices of foodstuffs, furniture, fuel and lighting, transport services, which form 73.3 percent of household expenditure, have decreased by 3.5, 1.0, 0.7, and 3.2 percent respectively, the report indicated.
Meanwhile, prices of tobacco and beverages; apparel, cloth and footwear; medicines and medical services; and other services, which form only 15.2 percent of household expenditure, have increased by 1.1, 1.6, 0.5 and 0.2 percent respectively, the report explained.
The report also showed a 5.6 percent drop in the annual inflation rate in the period May 2008- May 2009.
The COSIT, affiliated with the Iraqi Ministry of Planning and Development Cooperation, produces a monthly report on inflation in Iraq, which is based on field data of retail prices for products and services in Iraqi markets.

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