CBI expects continued high rates of inflation

[Stillw8n]

CBI expects continued high rates of inflation

Most likely the deputy governor of the Central Bank economist appearance of Mohammed Saleh, the continued increase in inflation rates in Iraq, in the event of failure to take fiscal and monetary policy actions necessary to reduce this phenomenon, citing the reasons for growing, ongoing for months in a row to higher prices for imported foodstuffs.

Saleh said in a press statement yesterday, “that inflation in Iraq will continue to increase if it continues policies have monetary and financial of Iraq to develop the steps necessary and decisive action to curb this dangerous phenomenon, pointing to this type of inflation, which is called (transition or importer) if left without treatment would cause damage,” chronic “through pressure on the cost decimal continuously, leading to increased rental rates for real estate and food in local markets.

He said Mohammed Saleh: that the causes of increased inflation rate in Iraq for months in a row due to the increase in prices of food imported from abroad, the fact that Iraq lacks the local production of materials food, indicating that these materials are high global prices as a result of the global economic crisis and continued: that Iraq is part of the world is affected by any change affecting the global commercial markets.

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