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The Central Bank announces high inflation for the month of August to 126.0%
Author: HM Editor: NQ | BS Monday 17 September 2012 09: 42 GMT
Deputy Central Bank Governor Mohammad Saleh appearance
Alsumaria news/Baghdad
The Iraqi Central Bank, announced Monday, rising inflation for August last to 126.0% and height a year to 5.0 percent, as the main reason housing prices and special rentals.
Deputy Central Bank Governor Mohammad Saleh appearance in an interview for "alsumaria news", "annual inflation rate for August rose to 126.0% and by 0.2 per cent compared with inflation for the month of July of the past", stating that "annual inflation for the month of August is also rose to 5.0 percent annual inflation for August 2011.
Saleh said the "Central Bank excluding petroleum oil and gas into fuel section and two sets of fruits and vegetables in the food section of the subsidiary and non-alcoholic beverages inflation indicators as prices volatile and unstable," universally known Foundation annual inflation is continuing spending pressures. "
Saleh said that "high annual inflation due to higher prices of housing section 10.0 rate compared with the prices in August 2011 due to the high price of housing rents at a rate of 13.2 percent, pointing out that" Central Bank for maintaining price stability in the markets. "
The Deputy Governor of the Bank, said that "the basis for annual inflation was announced by the Ministry of planning is not large and is under control in such circumstance which passes by Iraq," he said, adding that "the main objective of the Bank is to reduce prices and tackle inflation."
Saleh said that "Iraq's financial economic strength of high bank reserves would be a power reduction of inflation through measures such as the use of a reference interest rate or other action if inflation continues to rise in Iraq."
Inflation refers to the ratio of the change in the CPI calculated after excluding petroleum products (oil, gas) within the Department of housing and two sets of fruits and vegetables in the food section of the subsidiary and non-alcoholic beverages.
Ministry of planning and development cooperation, Iraq (11 September), annual inflation index for the month of August in Iraq by 7 percent due to higher rental rates for housing units and education across Iraq which has influenced inflation rise, indicating that the monthly inflation rate for the month last August also rose to 2.8 percent.
The Iraqi Central Bank, headquartered in Baghdad and has four branches in Basrah, Sulaimaniya and Erbil, Mosul, founded as an independent Iraqi bank under the law on the Central Bank of Iraq, issued on March 6, 2004, and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and currency management, as well as regulate the banking sector.
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Author: HM Editor: NQ | BS Monday 17 September 2012 09: 42 GMT
Deputy Central Bank Governor Mohammad Saleh appearance
Alsumaria news/Baghdad
The Iraqi Central Bank, announced Monday, rising inflation for August last to 126.0% and height a year to 5.0 percent, as the main reason housing prices and special rentals.
Deputy Central Bank Governor Mohammad Saleh appearance in an interview for "alsumaria news", "annual inflation rate for August rose to 126.0% and by 0.2 per cent compared with inflation for the month of July of the past", stating that "annual inflation for the month of August is also rose to 5.0 percent annual inflation for August 2011.
Saleh said the "Central Bank excluding petroleum oil and gas into fuel section and two sets of fruits and vegetables in the food section of the subsidiary and non-alcoholic beverages inflation indicators as prices volatile and unstable," universally known Foundation annual inflation is continuing spending pressures. "
Saleh said that "high annual inflation due to higher prices of housing section 10.0 rate compared with the prices in August 2011 due to the high price of housing rents at a rate of 13.2 percent, pointing out that" Central Bank for maintaining price stability in the markets. "
The Deputy Governor of the Bank, said that "the basis for annual inflation was announced by the Ministry of planning is not large and is under control in such circumstance which passes by Iraq," he said, adding that "the main objective of the Bank is to reduce prices and tackle inflation."
Saleh said that "Iraq's financial economic strength of high bank reserves would be a power reduction of inflation through measures such as the use of a reference interest rate or other action if inflation continues to rise in Iraq."
Inflation refers to the ratio of the change in the CPI calculated after excluding petroleum products (oil, gas) within the Department of housing and two sets of fruits and vegetables in the food section of the subsidiary and non-alcoholic beverages.
Ministry of planning and development cooperation, Iraq (11 September), annual inflation index for the month of August in Iraq by 7 percent due to higher rental rates for housing units and education across Iraq which has influenced inflation rise, indicating that the monthly inflation rate for the month last August also rose to 2.8 percent.
The Iraqi Central Bank, headquartered in Baghdad and has four branches in Basrah, Sulaimaniya and Erbil, Mosul, founded as an independent Iraqi bank under the law on the Central Bank of Iraq, issued on March 6, 2004, and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and currency management, as well as regulate the banking sector.
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