Central Bank: Annual inflation in Iraq was falling to 3.1% in November

[VIZIOIRAQI]

Central Bank: Annual inflation in Iraq was falling to 3.1% in November

Economic News - 23/12/2010Source: Reuters - 23/12/2010

Central Bank: Annual inflation in Iraq was falling to 3.1% in November

Central Bank: Annual inflation in Iraq was falling to 3.1% in November

Central bank official said on Tuesday that Iraq's core inflation in Iraq has dropped to 3.1 percent on an annual basis in November from 3.2 percent in October, is likely to be at a similar level in December.

Harmful, "said senior adviser Qassem, the central bank that inflation is due mainly to the rising cost of housing, water and electricity.. He said he expected inflation to be in December at a level similar to the November

Qasim told Reuters: "The rate of core annual inflation in November at 3.1 percent. This is the normal rate of inflation in view of the situation in Iraq."

. And excludes core inflation as determined by the Central Bank of fuel prices.

Iraq is struggling to revive its economy, difficulties that were damaged by decades of war and economic sanctions. The central bank tries to ease monetary policy and encourage banks to lend in order to help stimulate investment and growth.

. The government relies on exports from the huge oil fields that generate about 95 percent of budget revenues.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D14511&rurl=translate.google.com

[michelneedsRV]

He says 3.1 Percent to be Inflation and it's causes? OMG, they need 0 Percent inflation or what. These guys are nuts really. I'll take 3-5 Percent inflation any day for a country like iraq.

Michel

[Action316]

NICE Find!! THX