Iraq's inflation rate hits 70 percent, planning minister says
Iraq's inflation rate has soared to reach nearly 70 percent, the country's planning minister said Sunday.
The inflation rate from July 2005 to July 2006 stood at 69.6 percent, Ali Baban said.
"This indicates that inflation not just increased, but it is out of control," he said.
Baban said prices had increased in all goods used to measure inflation, including food, fuel, transport, medical services and drugs, clothing, property, furniture and other essential goods.
Fuel and electricity prices saw the highest increase, standing at 374 percent higher this July from the same month last year, Baban said. The transport and communications sector saw a 218 percent rise, while goods and services prices increased by 37.3 percent.
Read the rest at the International Herald Tribune
The inflation rate from July 2005 to July 2006 stood at 69.6 percent, Ali Baban said.
"This indicates that inflation not just increased, but it is out of control," he said.
Baban said prices had increased in all goods used to measure inflation, including food, fuel, transport, medical services and drugs, clothing, property, furniture and other essential goods.
Fuel and electricity prices saw the highest increase, standing at 374 percent higher this July from the same month last year, Baban said. The transport and communications sector saw a 218 percent rise, while goods and services prices increased by 37.3 percent.
Read the rest at the International Herald Tribune
posted by iraqnam at 2:45 PM
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