Date: Sunday 26/08/2012 07:07 AM
Saw inflation indicators for the month of July in rates stable compared with the previous month of June after it posted a slight rise (0.3%). At the time of announcing the CBI annual inflation basis for the month of July to 140.7%.
The press statement issued by the Information Office of the Ministry of Planning, this stability was the result of lower prices for the food and beverage department (0.7%) during the month and specifically decline in prices of fruits and vegetables.
The statement noted: that indicators annual inflation compared with July of last year saw a rise clear hit (5.7%) as a result of higher prices Department of Housing in the whole of Iraq (10%) due to the high value of rents homes, which amounted to (13 %).
The statement said: The Central Bureau of Statistics completed the inflation report for the month of July 2012, prepared on the basis of field data collection for prices of goods and services components of the consumer basket of selected sample of outlets in all of Iraq’s provinces, where the results showed, indicators indices of consumer prices at the level of Iraq, up in the general index of consumer prices (138.1%) in the month of July 2012 rate of 0.3% from the previous month and 5.7% compared with July 2011.
The report emphasized: that the Department of Food and non-alcoholic beverages prices recorded a decline during the month of July 2012 by 0.7% compared to the previous month, due to lower prices in the central region by 0.7% in the South by 1.0%, while prices have increased in the Kurdistan region by 0.1%. The main reason for the low prices of this section at the level of Iraq, mainly due to lower prices of vegetables and fruits. This section prices rose by 4.9% compared to prices in July 2011.
The report: The Department of Alcoholic beverages and tobacco prices rose during the month by 0.5% compared to the previous month, due to higher prices in the Kurdistan region by 3.1% in the South by 0.2%, while stabilized in the central region. The prices of this section increased rate of 2.7% compared to prices in the month of July 2011.
The report noted: that indicators indices of consumer prices at the district level, recorded prices in the Kurdistan region in July 2012 compared to the previous month increased by 0.7% resulting primarily from a rise in prices of food and non-alcoholic beverages by 0.1%, prices of alcoholic beverages and tobacco rate 3.1%, prices of clothing and footwear by 0.1%, housing prices by 2.0%, education prices by 6.2%, prices of miscellaneous goods and services by 0.1%.
The report went on: in the central region recorded prices in the month of July 2012 compared to the previous month increased by 0.4% resulting primarily from higher prices of clothing and footwear by 0.2%, housing prices by 1.5%, prices of health, transport, education and restaurants by 0.3%, prices of goods and miscellaneous services by 0.1%.
In the south recorded prices in the month of July 2012 compared to the previous month increased by 0.3% resulting primarily from higher alcoholic beverages and tobacco by 0.2%, prices of clothing and footwear by 0.1%, housing prices at 1.4%, prices of equipment and household equipment and maintenance and prices contact rate 0.1%, education prices by 3.5%.
The Central Bank of Iraq for rising inflation annual 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 Central Bank of Iraq the appearance of Mohammed Saleh “Alsumaria News”: “The 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,” adding that “the annual inflation basically known universally represents pressure spending continuing” .
He 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 Sakhvvan of cases of high inflation in Iraq.”
Saleh said that “inflation is still reasonable and controlled by as long as it did not up to two places decimal places,” pointing out that “the bank will take certain actions such as the use of a reference interest rate or other measures 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 had risen by 5.7 percent, while the monthly inflation rose to 0.3%.