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Annual inflation basis for the month of July to 140.7%
Date: Saturday 08/25/2012 09:36 am
Baghdad / follow-term
Iraqi Central Bank announced annual inflation basis for the month of July to 140.7%, attributed the reason to the high prices of housing, electricity and food, while considered reasonable height and in control of it.
The deputy governor of the Iraqi Central Bank the appearance of Mohammed Saleh "Alsumaria News", "annual inflation basis rose in the month of July to 140.7% compared with annual inflation basis for the month of June, who scored 139.6%, up by 0.8%," noting that "this Inflation has been rising by 5.9 percent for the month of July of last year 2011. "
Saleh added that "the central bank excluded from the inflation indicators petroleum products from the oil and gas within the Department of fuel and two sets of fruits and vegetables sub within the Department of Food and non-alcoholic beverages as prices volatile and unstable," He pointed out that "the annual inflation basically known universally represents pressure spending continuing."
and attributed the benefit of the causes of high inflation, "price pressures at home from services such as housing, electricity and cost of food after prices of industrial goods to the dollar in the base year 2005 by 35%," stressing that "encourage housing and land distribution will reduce the cases of high inflation in Iraq."
Saleh said that "this inflation is still reasonable and controlled by, as long as not up to two places decimal," pointing out that "the bank will take certain actions such as using a reference interest rate or procedures other in the event of continuing inflation and bringing them to two places decimal places. " Means inflation is essentially a percentage change in the index of consumer prices calculated after excluding petroleum products (oil, gas) within the Department of Housing and groups of fruits and vegetables sub within the Department of Food and non-alcoholic beverages.
announced the Ministry of Planning, in 18 of the August current indicators annual inflation for the period from July 2012, rose 5.7 percent, while inflation rose Monthly to 0.3%.
noteworthy that the Iraqi Central Bank, and is head quartered in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, founded the bank independent Iraqi under the law of the Central Bank of Iraq issued on 6 March 2004, and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as regulate the banking sector.
it confirmed member of the Finance Committee parliamentary deputy Magda Tamimi said Iraq is suffering from inflation and imaginary numbers population What affect negatively in the assessment of the volume of services provided to him.
said Tamimi told / JD /: that Iraq is witnessing inflation population due to lack of data transfer and subsequently access false statements to government agencies.
added that this inflation led to the delivery of goods and services to citizens according to figures is real built on the base false information, causing great damage to the country.
explained Tamimi that Iraq suffers from the problem of legislative being applied principle distribution of oil revenues on the basis of population density and neglects dramatically principle Mahromep, since it is equal among the provinces while vary much from the provinces in the economic potential and human and agricultural.
demanded a member of the Finance Committee the government to put precise criteria to sort the provinces on valid grounds and seek to provide services rather concern Palmeatrut the political and dissipate the wealth of the people who have suffered and are suffering a lot.
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