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The inflation rate in Iraq increased in the month of May 2104 according to ministry of planning. The ministry of planning criticized the ministry of food for not taking appropriate measures to control the situation as it was prevailing because rise in the inflation is due to rise in the cost of food items in Iraq.

The ministry of planning admitted that inflation rate in Iraq increased in the last 2 months to 3.2% that resulted to 5.4% annual increase in the inflation rate. The major cause behind this increase is considered the high prices of eatables in the last two months because of clashes between Iraq security forces and Sunni Militants.

It has been reported that the natural disaster affects the prices of food commodities. It was due to a weak economy that would affect the global inflation. As per Hafez global inflation the low levels of everything that showed the weak economy to show the hike in the food commodities.

The Central Bank of Iraq is finding notable measures to control the inflation in the country and also to stabilize the currency of Iraq. Iraqi currency is charming for investors. The currency of Iraq has been in the headlines in the business world for a number of years for its chances to regain the value.

It was reported yesterday that the price of the pound Sterling went up. How ever the euro faced some difficulties when it was recorded at a low price. It was also reported that the yen fell against the dollar. The economy of England reported inflation which indicated that the central bank would raise the interest rates. The Japanese economy showed an annualized rate of 6.8 percent during the second quarter of the year.