Jul 03 2011 |
more articles from
|
Iraq May Inflation Rate Accelerates To 6.3% - Central Bank
Sunday, Jul 03, 2011
(This item was originally published on Thursday.)
By Hassan Hafidh
Of DOW JONES NEWSWIRES
AMMAN (Dow Jones)--Iraq's year-on-year rate of inflation rose in May to 6.3%, compared with 6.1% the previous month, driven by soaring food stuffs and oil prices, a senior central bank advisor said Thursday.
Mudher Kasim told Dow Jones Newswires by telephone from Baghdad that the rise in core inflation was mainly due to increases in oil prices which led to higher prices of food stuffs such as sugar, flour, rice and tea, which rose 55%. Iraq imports most of its food stuffs.
Kasim said he expected inflation to continue to pick up next month, for the same reasons, but he added the rate remains within the control of the central bank.
Kasim also said that he expected Iraq's economy to grow at a rate of 9% in 2011 compared with 4.5% the previous year due to the huge investment in Iraq's oil sector.
Iraq, holder of the world's third-largest oil reserves, depends on its oil revenue to finance around 95% of its national budget.
-By Hassan Hafidh, Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
03-07-11 0359GMT
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment