Iraqi markets face sharp price rises
The Iraqi markets are experiencing a sharp rise in the prices of basic goods, products, and electronics, due to a wave of inflation that is crippling citizens' purchasing power and leading to a decline in merchant sales. The causes of this include increased transportation and shipping costs worldwide, higher taxes on imported goods, and supply chain disruptions, which have resulted in electronic device prices rising by over 50%. The crisis has also led to a reduction in bread quantities, decreased profit margins for bakeries, and a decline in essential purchases, along with increased market stagnation and closures of some shops. This has sparked widespread public discontent, as families now prefer to hold onto cash instead of spending on non-essential items, ultimately impacting overall market stability.
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