Current inflation العراق -11.9%
September 2024
Current Inflation
There is deflation with consumer prices declining by 12.3%.
Historical Context
Current inflation is 13.0% lower than the 5-year average of 0.7%.
- 5-year average
- 0.7%
- 10-year average
- 0.5%
- All-time high (2021)
- 6%
- All-time low (2024)
- -12.3%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +16.7 percentage point.
ECB Target
Inflation is 14.3% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
Due to deflation, purchasing power increases. Money becomes more valuable instead of less.
What you could buy for €100 this year will cost approximately €87.70 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- This year (avg.)
- -12.3%
- Last year
- 4.4%
- 5-year average
- -12.3%
- All-time high (2021)
- 6%