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Central exclude petroleum products from the calculation of inflation indicators
06/27/2012 0:00
BAGHDAD - Al Sabah
ruled the Central Bank of petroleum products from oil and gas from the calculation of indicators of inflation in Iraq, stressing that the strength of the Iraqi dinar will be able to reduce inflation. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh: that the Central Bank excludes petroleum products from oil and gas within the Department of the fuel as well as for the two sets of fruits and vegetables sub within the Department of Food and non-alcoholic beverages, of the indicators of inflation as prices volatile and unstable that the annual inflation basis is known internationally pressures spending continued. Salih stressed that the economic power of Iraq's financial and of higher bank reserves and balance of payments surplus of government should be reflected on the strength of Iraqi dinar, which in turn will be able to reduce inflation in the country. The Ministry of Planning on 17 of June, the current indicators of annual inflation for the period of the month of May 2011 until May of this year 2012 had declined by 2 percent, down from 9 percent to 7 percent, pointing out that the low Annual inflation is due to lower food prices, especially vegetables.
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