The deputy governor of the Bank the appearance of Mohammed Saleh “that the inflation rate basis for the last month of August rose to 141.0 percent attributing the cause to rise in housing prices and private rents.”
He went on: “The” annual inflation rate basis for the month of August rose by 0.2 percent compared to the base with inflation for the month of July. “
He said the “foundation annual inflation for the month of August also rose to 5.0 percent compared to the base annual inflation for the month of August of 2,011, noting that the foundation’s annual inflation known worldwide and represents ongoing spending pressures.”
He attributed the “high annual inflation due to rising housing prices and shelter rate of 10.0 compared to prices in the month of August 2011 due to higher rents for residential buildings fell 13.2 percent.”
Saleh continued that “high bank reserves of foreign currency will force factor in reducing inflation through certain procedures such as the use of a reference interest rate or other proceedings in the case of inflation continued to increase in Iraq.