Iraqi Planning announces rise in annual inflation for the past month by 5%

[Docneose]

Iraqi Planning announces rise in annual inflation for the past month by 5%

Posted: December 18, 2011 in Iraqi Dinar/Politics

Tags: Iraq

Baghdad, 18 December / December (Rn) – The Iraqi Ministry of Planning of the Federal, Sunday, a rise in annual inflation for the month of November last by 5% compared with November of last year.

He said the ministry spokesman Abdul Zahra al-Hindawi told the Kurdish news agency (Rn) that “the rate of inflation for the month of November last rose by 5% compared with November of last year.”

He added that “the housing section in which inflation rose higher average rate of 11.4% compared to price levels in the month of November 2010 because of rising rents Alldoralexanah of 10.4%, and also because of the high price of electricity fees by 100% due to the application of new rates.”

He said, “Alcoholic beverages and tobacco rose by 5.7% and clothing and footwear rose the other is a 7.1% and oil products increased 5% compared with the month of November of 2010.”

He said “household equipment rose by 2.2%, and increased health equipment by 7.9% and rose CTO compared prices to 3.9 in November of 2010″

And that “the communications department at a rate of inflation rose 1.7% and that the Department of Recreation and culture have declined by 1.9% and rose by 8.1 Department of Education and the Department of restaurants, 6.4% and a section of goods and services 14%, all compared to November of last year.”

The rate of inflation in the last month, 5% for the month of last October compared to October 2010.

And inflation is the excessive rise in the general level of prices and higher cash income as well as high costs and create excessive cash balances.

http://bit.ly/tA7Yif

[OregonHopeful]

Good News!

[PacoTaco]

Go Go Go UP! Good news yes!

Go RV!

[wealthhound]

Thanks for the post Docneose!

Santa is in the chimney, lets get his butt down and put that gift under the tree!

[Alex38]

I read this earlier on another site... Wouldnt this put them above 10%???

[wpsmit]

RV,RV,RV!

[eaglefan]

I read this earlier on another site... Wouldnt this put them above 10%???

I would think that it would if their last reported inflation was around 7%

[fastarnie]

Shabs is smart I bet he's thinking of a trick right now. He probably knows 10 ways to fight inflation. I really would like to know why he's waiting. I was hoping the rise of inflation would trigger it. I guess we wait and see.

[sonny1]

this will put inflation around 13%, this with the news about them not changing currencies equals quick rv.......

this is the new currency article, this article is one that falls under the radar, but probably the best one we have ever gotten.....

[KNTIME]

Thanks for the post Docneose.. Interesting.. Happy Holidays GO RV...

[TrinityeXchange]

I read this earlier on another site... Wouldnt this put them above 10%???

recall that the reference point is november of 2010. so inflation is up 5% from that of a year ago. i do not know what that number was but should someone find it, just add +5% to it and you will have the rate as of today.

[jeepguy]

i knew that all the talk about inflation being around 7% was not too true --- i`m still in the thinking that it is in the 15 % overall ,,,maybe more so now that troops have gone,,,and with g.o.i. arguing about gooffy stuff and dragging their feet the inflationary number might go too 18% { if they do not hit that currency revalue very soon}

this will put inflation around 13%, this with the news about them not changing currencies equals quick rv.......

this is the new currency article, this article is one that falls under the radar, but probably the best one we have ever gotten.....

i am hoping they read our articles and get this going

[Boiler]

I read this earlier on another site... Wouldnt this put them above 10%???

I interpreted this as just from last Nov to this Nov it rose by 5%, not 5% + whatever it was last month. Does that make sense? I could be wrong

[Shelley]

recall that the reference point is november of 2010. so inflation is up 5% from that of a year ago. i do not know what that number was but should someone find it, just add +5% to it and you will have the rate as of today.

Hey Trinity, this was all I could find on inflation 11/2010 not real sure how factual

Iraq’s Inflation Falls in November

Posted on 21 December 2010. Tags: Central Bank, inflation

Iraq’s core annual inflation slipped to 3.1 percent in November from 3.2 percent in October and is likely to be at a similar level in December, a central bank official said on Tuesday.

Reuters reports that Mudher Kasim, a senior adviser at the Central Bank of Iraq, said inflation was driven mainly by higher housing, water and electricity costs. He said he expected inflation in December to be at a similar rate to November.

‘The basic annual inflation rate for November is at 3.1 percent. This inflation figure is considered normal when compared to the conditions in Iraq.”

Core inflation, as defined by the central bank, excludes fuel prices.

Iraq is battling to revive an economy damaged by decades of war and economic sanctions. To help spur investment and growth, the central bank has tried to relax monetary policy and encourage bank credit.

(Source: Reuters)

[Carrello]

Sorry Shelley, I had not read your post yet. Ours are the same.

recall that the reference point is november of 2010. so inflation is up 5% from that of a year ago. i do not know what that number was but should someone find it, just add +5% to it and you will have the rate as of today.

Using the reference point below, this would put the inflation rate today for November 2011 at 8% using your analogy.

Iraq Business News

Iraq’s Inflation Falls in November

Posted on 21 December 2010. Tags: Central Bank, inflation

Iraq’s core annual inflation slipped to 3.1 percent in November from 3.2 percent in October and is likely to be at a similar level in December, a central bank official said on Tuesday.

Reuters reports that Mudher Kasim, a senior adviser at the Central Bank of Iraq, said inflation was driven mainly by higher housing, water and electricity costs. He said he expected inflation in December to be at a similar rate to November.

‘The basic annual inflation rate for November is at 3.1 percent. This inflation figure is considered normal when compared to the conditions in Iraq.”

Core inflation, as defined by the central bank, excludes fuel prices.

Iraq is battling to revive an economy damaged by decades of war and economic sanctions. To help spur investment and growth, the central bank has tried to relax monetary policy and encourage bank credit.

(Source: Reuters)

http://www.iraq-businessnews.com/2010/12/21/iraqs-inflation-falls-in-november/

Iraqi Inflation Reported at 5%

Posted on 18 December 2011.

Iraq-Business News

The Statistics Department of Iraq’s Ministry of Planning reported on Sunday that that prices rose by 5% for the period November 2010 to November 2011, according to Aswat al-Iraq.

Monthly inflation was “increased by 0.1%”.

The report concentrated on the commodities and services for consumption, including foodstuffs, beverages, clothes, shoes, housing, fuels (benzene, gasoline), household appliances, health materials, transportation, communications, culture, education, restaurants and diversified services.

(Source: Aswat al-Iraq)

http://www.iraq-businessnews.com/2011/12/18/iraqi-inflation-reported-at-5/

Edited December 18, 2011 by Carrello

[westy33567]

I interpreted this as just from last Nov to this Nov it rose by 5%, not 5% + whatever it was last month. Does that make sense? I could be wrong

Boiler, the way it is said, I would tend to agree with you. So is it the translation, or is it 5% increase of 3.5% (roughly) from last year? By the way Merry Christmas, Happy Holidays, and a Happy Healthy and PROSPEROUS New Year to Everyone and their Families @ Dinar Vets!

[Carrello]

I interpreted this as just from last Nov to this Nov it rose by 5%, not 5% + whatever it was last month. Does that make sense? I could be wrong

It looks to me like you are right. The question is are the numers reported correct.

I included a couple of articles regarding the interest rates, and Shelley did too.

[RodandStaff]

More inflation... just what Shabbs hates to see happen... and just what will get this ball rolling!

GO RV Already Baby!!!

[Shelley]

Carrello... Who is giving out all the negs ???? I evened everyone out, but I just don't understand why they negged in the first place ????

[InItSince05]

Shabs is smart I bet he's thinking of a trick right now. He probably knows 10 ways to fight inflation. I really would like to know why he's waiting. I was hoping the rise of inflation would trigger it. I guess we wait and see.

Shabibi always said he wants the full GOI in place....In April he said when the GOI does what it needs to do he will do what he needs to do. Does he have to wait? I think not, but I know he wants to do it right. I think he is waiting for everyone to be seated and he's being patient.

[Carrello]

Carrello... Who is giving out all the negs ???? I evened everyone out, but I just don't understand why they negged in the first place ????

Mystery Men, or people that find it easier to flip a finger and give a neg rather than take the effort to voice their opinion. Who cares! The people here that have something of importance or validity to say, will do so, and that is what is important. This is an education for everyone involved, I believe. Unless there is someone that knows everything, then we would like to hear it.

Edited December 18, 2011 by Carrello

[Carrello]

Mystery Men, or people that find it easier to flip a finger and give a neg rather than take the effort to voice their opinion. Who cares! The people here that have something of importance or validity to say, will do so, and that is what is important. This is an education for everyone involved, I believe. Unless there is someone that knows everything, then we would like to hear it.

Shelley, think of it this way: Everytime they neg somebody, your eye goes right to the red, and people read it. So if you have something to say and they don't like it, they are helping you to get your message out. Neg away!

Ah, the season of giving. Give a negative to somebody you care about! Merry Christmas!

Ho ho ho!

[jeepguy]

come on folks !!!! we are talking about iraq ,,, they were in a 10 year conflict,,, just came out of it { or so the u s says } how can they actually have much in the way of large jobs at this time,,, i think on one news shows that over 3 million iraqi`s make under 2 u.s.dollars a day ,,,, that too me is inflation ,,, what are the cost of things that 2 bucks can buy ??? nothing yet ,,,, so the talk that inflation is in the low numbers is all smoke and talk ,,,they are trying too save face in the way of arab nations look at each other, { this just my opionion only } but i do think they are way above .10% and have been for at least 7 years ..............