Looks like inflation is on the rise...

Iraq: the annual inflation rate of 1% last month

10/01/2012 14:29

Baghdad, January 10 January (Rn) - The Iraqi Ministry of Planning of the Federal Tuesday, the high annual inflation for the month of December last January by 1% compared with the month of November.

He said the ministry spokesman Abdul Zahra al-Hindawi told the Kurdish news agency (Rn) that "the rate of inflation for the month of December rose by 1% compared with November of last year."

"The housing sector inflation, which rose by 0.3% compared to price levels in the month of November because of the high prices of rent the homes."

He continued by saying that al-Hindawi, "Department of Food and non-alcoholic beverages prices rose record during the month of December 2011 by 2.2% compared to the previous month."

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.

From: Jafar Allonan. Manufacturing of: Walid al-Zaidi. Open: Abdullah Sabri