Baghdad: The Ministry of Planning announced a decline in both monthly and annual inflation rates during the month of June. Abdul Zahra Al-Hindawi, the Ministry’s official spokesperson, stated that field visits by the General Authority for Statistics and Geographic Information Systems teams to all Iraqi governorates revealed a decrease in the monthly inflation rate by 1.2% compared to last May. The annual inflation rate also saw a decrease of 0.6% compared to June 2024.

According to National Iraqi News Agency, the decrease in inflation rates was attributed to several factors, including a decline in prices across major categories. The food and non-alcoholic beverages category experienced a reduction of 1.7%, while the tobacco category saw a decrease of 2.1%. Conversely, the clothing and footwear category recorded a slight increase of 0.1%.

The report also highlighted a 2.1% decrease in the housing category, whereas the household equipment and furnishings, health, and education categories remained unchanged from May. Transportation costs decreased by 0.6%, and the entertainment and culture category saw an increase of 0.9%. Restaurants and hotels experienced a slight decline of 0.1%, while prices in the miscellaneous goods and services category rose by 0.4%.

Al-Hindawi further noted that the annual core inflation rate, which excludes items with volatile prices such as fruits, vegetables, oil, and cooking gas, also recorded a decline of 0.7%.