Shafaq News- Baghdad
Iraq’s annual inflation rate fell to 3% in May from 4.3% in April, while consumer prices declined 1.2% month on month, according to the Statistics and GIS Authority.
The Consumer Price Index dropped to 111.2 points from 112.5 in April.
Manar Al-Obaidi, head of the Iraq Future Foundation for Economic Research and Consultations, attributed the slowdown mainly to lower food, vegetable, and fuel prices.
Food and non-alcoholic beverage prices fell 3.1% from April, while housing, water, electricity, and gas declined 1.1%. Meat prices rose 1.7%, with dairy products, eggs, and fish also recording increases.