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Iraq core inflation speeds up in April

Baghdad, May 23, 2011

Iraq's core annual inflation rate rose to 6.1 per cent in April from 5.7 per cent in March, mainly driven by food and service costs, senior central bank advisor Mudher Kasim told Reuters on Monday.

Iraq's central bank said in April that it expected annual inflation to remain within single digits as a national food programme helps absorb some of the price increases. Annual inflation was 5.5 per cent in February.

The country's economy is slowly getting back on its feet  after years of war and sanctions. Oil still dominates the Opec country's economy, accounting for 95 per cent of government revenues.-Reuters




Tags: inflation | Iraq | food costs |

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