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After changing the exchange rate, the inflation rate rose by 3.3%
13:30 - 24/01/2021 The information / Baghdad ..
The Central Bureau of Statistics of the Ministry of Planning released its qualitative report for the Consumer Price Index for the month of December of 2020, which is the first report issued by the agency after changing the exchange rate.
The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in a statement that the information received, a copy of it, that “the report showed an increase in inflation indicators for the month of last December by (3.3%), compared to the previous month, while the annual inflation rate increased compared to December 2019 by (3.2%) affected by the change in the dollar exchange rate.
Al-Hindawi added, "The prices of the tobacco section increased by (10.1%) due to the increase in the prices of imported cigarettes, and the health department also recorded an increase in its prices, which reached (8.8%), and the prices of the entertainment section increased by (7.5%) due to the high prices of reception equipment and pictures. Such as televisions, cameras and computers. The transportation department also registered an increase by (7.2%), due to the high prices of cars, especially private cars, as well as the increase in the prices of bicycles and the prices of spare parts such as tires and batteries.
He explained, "The prices of the goods and services section increased by (4.9%), as a result of the rise in gold prices throughout IraqThe prices of the household equipments, equipments and maintenance section also recorded an increase by (3.7%) due to the increase in the prices of the household appliances and the furniture group, while the prices of the housing section increased by (3.2%), as a result of the increase in the prices of the water and electricity supply group, and the increase was concentrated in The generators ’subscription fees, while the rate of increase in the prices of the call section was (3%) due to the increase in the prices of mobile phones, and the Food and Non-Alcoholic Beverages Department recorded a slight increase of (0.5%), due to the increase in the prices of the batches of bread, grains, meat, fish, milk, cheese, eggs, and oils Sugar, non-alcoholic beverages.
Al-Hindawi pointed out to "the increase in the base inflation rate during the month of last December by (4%), compared to the previous month of November, while the annual base inflation rate recorded an increase of 4.2% compared to the same month of 2019." End / 25
Reducing inflation corrects economic plans
November 12, 2019
Inflation is defined as a continuous rise in the general level of prices. The rise is always associated with a continuous decline in the value of money.
Inflation rates are governed by a range of factors, including the country's monetary policy, the size of GDP, the balance of trade with other countries, the country's self-sufficiency rates of industrial and agricultural goods and products, and population growth rates.
Inflation comes from the large and persistent demand for goods and products and the lack of supply, because of the imbalance between supply and demand in favor of demand, leading to a cumulative rise in prices of goods, products and services and a successive decline in purchasing power For money.
Inflation is also an economic phenomenon to which the various countries of the world are subjected to their different capitalist or targeted economy.
Inflation causes negative economic and social impacts on members of society of varying intensity, which requires work to reduce these negative effects, both economic and social.
Inflation in development has a negative impact, particularly on government economic policies and plans due to price differentials between the estimates made in the economic plans for their implementation and the changing reality due to higher prices resulting from inflation.
Therefore, it is necessary to work by the competent authorities in Iraq to reduce the high inflation rates and work to control, and always be within the reasonable and economically acceptable and not be very negative effects in order to reduce its economic and social consequences, because of the other negative effects of inflation Increasing the financial gap between the wealthy and low-income people in favor of the first category due to the erosion of the savings of these individuals due to the price increases to them, which means increasing the impoverishment of the poor and increasing the wealth of the wealthy and causing an increase in the class gap between the layers of society, leading To increase disadvantage among many groups in the society.
Controlling inflation is very important in order to continue working to achieve economic development and the well-being of the members of society resulting from the stability of prices and enable the majority of citizens to buy goods and services at prices Acceptable. Inflation rates can be reduced by reforming fiscal and monetary policies and using financial and monetary instruments in a correct manner, thereby reducing inflation rates and achieving control over these rates and keeping them within the economically permissible limits.
Therefore, it is necessary to develop plans to get rid of this economic problem of social dimensions in Iraq and not to make it have significant negative effects, and does not allow them to influence the policies of economic reform and economic development negatively, and can benefit from the results of scientific economic research in the development of these plans and divided The experience of other countries that succeeded in getting rid of the problem of inflation, taking into account the special economic conditions and capabilities of Iraq, can be used to achieve success in efforts to get rid of inflation. Form Inflation.
Just wanted to give everyone a heads up to this situation. A currency seller with the store names ZimbabweDollars.Net and TheCurrencyStore is outright scamming people.
I realize many people aren't fans of the Zimbawbwe Dollar to begin with but that aside should someone decide to buy it they should receive something and not be scammed and they should also get legitimate notes.
I personally was scammed by them about a year back. I made a purchase, they sent me 100 Trillion notes which were clearly printed on a home computer. The site says refunds no questions asked. They refused to refund me and told me to file a chargeback with my credit card company. After calling the police in his city and pestering him endlessly he finally refunded me. I've heard numerous stories on forums and from colleagues who made the same mistake. There's also a Youtube video from someone else who had the same experience.
I just talked to another online friend today who paid last week and received nothing and has no communication from the seller. It seems this has been going on for a while and neither Shopify or Stripe seem to care this guy is selling fake notes and/or outright scamming people so looks like he'll be able to continue. Just wanted to give you guys a heads up.
Abadi & Saleh talk about Iraq's return to the int'l stage & regain the IQD to it's former glory.
Take this as a rumor. Not varified. Your opine.
12-12-2017 Newshound/Intel Guru Mnt Goat Article quote: “We can say that IRAQ’S SOVEREIGNTY HAS BEEN FULLY REALIZED and that IRAQ HAS A REAL OPPORTUNITY TO ADVANCE AND REGAIN ITS STATUS AFTER IT HAS RETURNED ITS CONFIDENCE TO THE INTERNATIONAL COMMUNITY,” Okay folks if this...statement ...does not rock you, I don’t know what will. These are almost the exact words used in a past statement made by the PM Abadi and Saleh when they said they wanted Iraq to return to the international stage and regain their former glory of their currency. ...Folks this is WOW! news.
Testing the Rocker Badge!
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