Iraq: Stability in Food Prices Throughout 2023

The World Bank confirmed today, Friday, that Iraq did not experience significant inflation in food prices during 2023. The Central Bank of Iraq disclosed in a report that "according to the World Bank, inflation levels in the food sector indicate that Iraq is one of the few countries that did not witness major inflation in food prices throughout 2023." Furthermore, the International Monetary Fund announced on December 20 of last year that the inflation rate in Iraq had decreased and is expected to stabilize due to the policies of the Central Bank of Iraq, the impact of raising the exchange rate of the Iraqi dinar, and improved compliance with anti-money laundering and counter-terrorism financing frameworks.