Iraq's annual inflation slows to 3% in May, statistics office says

BAGHDAD, Iraq — Iraq's annual inflation rate fell to 3% in May, down from 4.3% in April, according to official data from the Iraqi Central Statistical Organization. The slowdown was driven primarily by declines in food, vegetable and fuel prices. Economist Manar al-Obeidi, head of the Iraq Foundation for Future Studies and Economic Consulting, said prices of dairy products, eggs, meat and fish posted a relative increase during the same period. The organization's inflation dashboard presented monthly and year-on-year comparisons of price movements for May, showing the 3% reading as a notable deceleration from the previous month's 4.3%. No additional details on contributing factors or forward-looking projections were immediately available.