2024-02-23T08:27:00+00:00
A-
A
A+
/ The Iraq Future Foundation for Economic Studies and Consultations announced on Friday that the prices of goods and services in Iraq have increased by 18% since the beginning of 2020 until the beginning of 2024, according to price data issued by the Ministry of Planning and the Central Statistical Organization.
The institution stated in a report issued by it that important and basic commodities for the Iraqi citizen witnessed an increase of more than 30%, led by meat, which increased by 36% compared to the year 2020, and fish prices increased by 38%, as well as dairy products by 30%.
According to the report, health services and transportation services also witnessed a significant increase, reaching more than 25% for both services, noting that the services with the lowest price increases were rents in all of Iraq, which only increased by 2%, as well as non-alcoholic beverages, which only increased by 9%.
The institution expected in its report that inflation rates would continue to rise, especially with the rise in the costs of international supply chains, in addition to climate changes that affect a wide sector of food commodities.
The report pointed out that, despite these increases in inflation rates over four years, they are considered the lowest compared to other neighboring and international countries, which have significantly exceeded their inflation levels over the past four years.
The institution warned that not developing plans to secure various goods, whether through local production or import, will exacerbate the price problem and will have major repercussions on the Iraqi citizen in the coming years, as well as its social impacts on the citizen and an increase in poverty rates.