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 IQD 100 this year will cost approximately IQD 88 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%