Consumer Price Inflation for Iraq
IRQPCPIPCHPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.50
Year-over-Year Change
86.22%
Date Range
1/1/2005 - 1/1/2025
Summary
The Consumer Price Inflation for Iraq measures the change in the prices paid by Iraqi consumers for a basket of goods and services. It is a key indicator of inflation and purchasing power within the Iraqi economy.
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 Consumer Price Inflation for Iraq is a monthly index that tracks the weighted average change in prices for a representative basket of consumer goods and services. It is used by economists and policymakers to assess the overall rate of inflation and cost-of-living changes within the Iraqi economy.
Methodology
The data is collected by the Central Statistical Organization of Iraq through surveys of household expenditures.
Historical Context
Monitoring consumer price inflation is crucial for the Central Bank of Iraq in setting appropriate monetary policies.
Key Facts
- Iraq's annual consumer price inflation was 3.4% as of December 2022.
- The Iraqi dinar is the national currency of Iraq.
- The Central Bank of Iraq targets an annual inflation rate of 2-3%.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Inflation for Iraq measures the change in the prices paid by Iraqi consumers for a basket of goods and services, providing a gauge of overall inflation in the country.
Q: Why is this trend relevant for users or analysts?
A: Tracking consumer price inflation is crucial for economists, policymakers, and consumers to understand changes in purchasing power and the cost of living within the Iraqi economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Statistical Organization of Iraq through surveys of household expenditures on a representative basket of consumer goods and services.
Q: How is this trend used in economic policy?
A: The consumer price inflation rate is a key input for the Central Bank of Iraq in setting appropriate monetary policies to maintain price stability and support economic growth.
Q: Are there update delays or limitations?
A: The consumer price inflation data for Iraq is typically published with a 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Consumer Price Inflation for Iraq (IRQPCPIPCHPT), retrieved from FRED.