Rose inflation rates and drop U.S. dollar exchange rate
During 2007

The Central Organization for Statistics and Information Technology/ Ministry of Planning and Development Cooperation reveal on rose rates of annual inflation in 2007 by (30.8%) compared to 2006, while price index of US dollar exchange against Iraqi dinar witnessing decline amounted (1266) ID compared to 2006, where it was (1477) ID.

The press release issued by the Directorate of publication and public relations in the Central Organization for Statistics and Information Technology that the underlying causes for rise annual inflation rates during 2007 was rise index number of major groups, fuel and lighting group came in the forefront which rose a noticeable rate by (71.6%), followed by transport and communications group which rose by (29.3%), miscellaneous goods and services group rose by (29.2%) then group of rents rose by (23.9%), foodstuffs group have risen by (13.9%), group of medical services and medicine rose in rate of (11.5%), group of fabrics, clothing and footwear rose by (8.4%), household goods (furniture) group rose by (6.8%) and finally group of smoke and alcohol, which witnessed rise in the index number by (6%).

 
The release concluded that the index number (inflation) is an important and a real indication of overall prices level in the country, can also be used as an indicator to access for estimates some important economic indicators associated with fixed prices, so various of countries seeking to provide accurate figures and reflect on this indicator because of its direct contact by Individual welfare and standard of living. It pointed out that Central Statistics Organization is keen to follow up index number in Iraq by issuing a monthly report on inflation rates in Iraq.