Inflation rate in Kurdistan Region drops to 3.4 percent with lowest growth in Erbil

This decrease in inflation rate reflects the efforts of the Kurdistan Region to stabilize its economy and improve the living standards of its citizens.
A photo of the famed Qaysari Bazaar. (Photo: Kurdistan24)
A photo of the famed Qaysari Bazaar. (Photo: Kurdistan24)

ERBIL (Kurdistan 24) – Inflation in the Kurdistan Region fell to 3.4% in 2023, compared to 7.1% in 2022 and 7.5% in 2021, according to the annual report from the Kurdistan Region Statistics Office published in June 2024.

Erbil recorded the lowest inflation rate at 2.4%, followed by Duhok at 3.8% and Sulaimani at 4.5%.

The Kurdistan Regional Government's report detailed the structure of household expenditure in the Kurdistan Region for 2023 as follows:

- Foods and Non-alcoholic Beverages: 7.8%
- Alcoholic Beverages and Tobacco: 9.7%
- Clothing and Footwear: 7.4%
- Rent, Fuel, Electricity: 7.2%
- Household Supplies and Maintenance: 7.9%
- Health: 9%
- Transportation: 8.4%
- Communication: 8%
- Recreation and Culture: 8.3%
- Education: 8.6%
- Restaurants: 7.2%
- Miscellaneous Goods and Services: 10.4%

Erbil Household Expenditure Structure for 2023

- Foods and Non-alcoholic Beverages: 7.1%
- Alcoholic Beverages and Tobacco: 7.6%
- Clothing and Footwear: 7.1%
- Rent, Fuel, Electricity: 7.2%
- Household Supplies and Maintenance: 7.6%
- Health: 8.7%
- Transportation: 7.6%
- Communication: 6.8%
- Recreation and Culture: 7.8%
- Education: 9.3%
- Restaurants: 6.9%
- Miscellaneous Goods and Services: 10.1%

Sulaimani Household Expenditure Structure for 2023

- Foods and Non-alcoholic Beverages: 7.1%
- Alcoholic Beverages and Tobacco: 8.2%
- Clothing and Footwear: 7%
- Rent, Fuel, Electricity: 6.7%
- Household Supplies and Maintenance: 7.2%
- Health: 7.7%
- Transportation: 7.9%
- Communication: 7.8%
- Recreation and Culture: 8.3%
- Education: 8.3%
- Restaurants: 7.3%
- Miscellaneous Goods and Services: 9.1%

Duhok Household Expenditure Structure for 2023

- Foods and Non-alcoholic Beverages: 8%
- Alcoholic Beverages and Tobacco: 8.6%
- Clothing and Footwear: 7.1%
- Rent, Fuel, Electricity: 8.1%
- Household Supplies and Maintenance: 8%
- Health: 10.3%
- Transportation: 8.2%
- Communication: 8.1%
- Recreation and Culture: 7.8%
- Education: 6.7%
- Restaurants: 7.6%
- Miscellaneous Goods and Services: 11.1%

This decrease in inflation rate reflects the efforts of the Kurdistan Region to stabilize its economy and improve the living standards of its citizens.