Iraq - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Iraq was 127.57 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 128.79 in 1978 and a minimum value of 0.03 in 1990.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1960 59.06
1961 59.60
1962 60.37
1963 62.76
1964 62.70
1965 62.42
1966 63.65
1967 65.75
1968 67.19
1969 71.05
1970 74.14
1971 76.81
1972 80.79
1973 84.75
1974 91.27
1975 99.96
1976 112.78
1977 123.11
1978 128.79
1990 0.03
1991 0.09
1992 0.16
1993 0.49
1994 2.66
1995 12.97
1996 10.88
1997 13.39
1998 15.36
1999 17.30
2000 18.16
2001 21.13
2002 25.21
2003 33.69
2004 42.77
2005 58.58
2006 89.77
2007 80.73
2008 90.95
2009 97.20
2010 100.00
2011 105.80
2012 112.24
2013 114.35
2014 116.91
2015 118.54
2016 119.20
2017 119.42
2018 119.86
2019 119.62
2020 120.31
2021 127.57

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices