******Iraq core inflation 7.1pc in July****** thank you Shredd

Thursday, 18 August 2011 16:07

BAGHDAD: *****Iraq's core annual inflation rate quickened to 7.1 percent in July from 6.4 percent in June, driven mainly by higher housing rental prices and an increase in the cost of building materials, a central bank official said on Thursday.******

Deputy Governor Mudher Kasim told Reuters the slow response by government in addressing Iraq's chronic housing shortage had continued to push prices up.

"60 percent of Baghdad families do not own houses," Kasim said.

Iraq faces an acute shortage of houses after years of war and sanctions and needs between 2-3 million new homes for its growing population, officials have said.

The housing shortage is a pressing demand for Iraqis and progress on the ground to address the problem has been slow, mainly due to a lack of finance.

The government hopes a sharp fall in violence from the sectarian strife in 2006-07, and a new investment law allowing foreigners to own land for housing projects, will help entice foreign investors.
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Happy to help. You guys are great!

Great article, Shredd!!

Excellent find, and a great article for improving our knowledge.

Thank you for bringing it here.

Iraq: the inflation rate last July was 6.2%
18/08/2011 15:57

Baghdad, August 18 / August (Rn) - The Iraqi Ministry of Planning Thursday for the high rate of annual inflation in the country for the month of July last for up to 6.2%. and decreased the rate of inflation in the month of June last to reach 6.1% compared to May / May when the average has 6.3 driven by the cost of imported goods and services. The program helps the ration card to absorb some price increases and the central bank says it expects the survival of annual inflation in the single digits. and inflation is excessive in the general level of prices and higher cash incomes as well as high costs and over-the creation of cash balances. The Ministry spokesman Abdul-Zahra al-Hindawi told the Kurdish news agency (Rn) that the level of inflation for the month of July for 2011 increased compared to 2010 by 6.2%. He said that inflation was due to higher headline indices of consumer prices at the level of Iraq. and sinking foreign goods the local market Balmistordat because of government neglect of the private sector and years of wars and international sanctions. He Hindawi that inflation in the housing rose by 12.6%, while food and non-alcoholic beverages was registered an increase by 6.3 while the rate for alcohol and tobacco to 6.2%. Inflation in the clothing sector by 1.8% and in the health sector reached 8.8% in the transport sector by 2.3 and communication by 1.3 and education 8%, and miscellaneous services (13.2 percent), according to a Hindawi. The Central Bank says that inflation comes because of the high wages electricity prices primarily basis. and still Iraq is suffering from are large energy Electric did not succeed any minister taking office after 2003 to find a solution to the sector, despite the devastating huge money from oil revenues. Wanan of Jafar, the Open: Murtaza Yousuf

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excellent find shredd and ty so much for bringing it to us, inflation for them is so important to us and this investment imo...ty again buddy an ty peakers for posting it BL