October 23, 1996 in Nation/World

Iraq Tries To Ease Rampant Inflation

Associated Press
 

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.

© Copyright 1996 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Get stories like this in a free daily email


Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus