Inflation Won't Be A Problem In 2009

Iraq's Central Organisation for Statistics and Information Technology (COSIT) recently released February's consumer price index (CPI) figures, and they show that price pressures in Iraq continue to be subdued. Overall inflation came in at 0.2% y-o-y in February, and the CPI has in fact fallen in three of the past four months (with December only showing a modest 0.8% m-o-m increase). In the current climate of lower oil prices and general deflation across the globe, we do not expect inflation to return as a problem in the short to medium term. We have consequently cut our average inflation forecast for

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