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Iraq Tries To Ease Rampant Inflation

Wed., Oct. 23, 1996

The government flooded the capital’s two main markets with low-priced goods Tuesday in an unorthodox move to counter rampant inflation brought on by six years of crushing economic sanctions.

The government intervention was only partially successful. It forced merchants to lower their prices, though only marginally.

Baghdad residents said government trucks loaded with basic food items, including rice, sugar and cooking oil, appeared early Tuesday at the capital’s Jamila and Shorja markets. The government was selling a pound of sugar for 22 cents and a pound of rice for 18 cents.

The monthly salary of an Iraqi government employee is $2.22.


 

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