Inflation, consumer prices for Iraq
FPCPITOTLZGIRQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.36
Year-over-Year Change
-24.87%
Date Range
1/1/1960 - 1/1/2023
Summary
The Inflation, consumer prices for Iraq trend measures the change in the prices of a basket of consumer goods and services in Iraq. It is a key indicator of the country's economic health and purchasing power.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for Iraq trend tracks the rate of inflation, or the general increase in prices of consumer goods and services, in the Iraqi economy. It is used by economists, policymakers, and market analysts to gauge the overall cost of living and assess the effectiveness of economic policies.
Methodology
The data is collected by Iraq's Central Statistical Organization and calculated as a percentage change in the consumer price index over time.
Historical Context
Inflation data is closely monitored by the Iraqi government and the International Monetary Fund to inform macroeconomic policies and manage economic stability.
Key Facts
- Iraq's inflation rate was 3.7% in 2022.
- High inflation can erode consumer purchasing power.
- Stable, low inflation is a key goal of Iraqi economic policy.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for Iraq trend measures the rate of change in the prices of a basket of consumer goods and services in the Iraqi economy.
Q: Why is this trend relevant for users or analysts?
A: Inflation data is a crucial indicator of economic health and purchasing power, and is closely monitored by policymakers and market analysts to inform economic decisions.
Q: How is this data collected or calculated?
A: The data is collected by Iraq's Central Statistical Organization and calculated as a percentage change in the consumer price index over time.
Q: How is this trend used in economic policy?
A: Inflation data is used by the Iraqi government and international institutions like the IMF to manage economic stability and inform macroeconomic policies.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting or limitations in coverage, as is common with economic indicators for developing countries.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Iraq (FPCPITOTLZGIRQ), retrieved from FRED.