Economy Update – Baghdad
The Ministry of Commerce has initiated a comprehensive campaign aimed at monitoring food and meat prices across local markets in Baghdad and various governorates, emphasizing that no price increases have been observed.
“This initiative is based on the directives of Prime Minister Mohammed Shia Al-Sudani and is directly overseen by Minister of Commerce Atheer Al-Ghariri. The Commercial and Financial Control Department, in collaboration with economic security forces and law enforcement against organized crime, has undertaken an extensive surveillance operation of food and meat prices in the local markets preceding the holy month of Ramadan,” stated a ministry official, reaffirming that “prices are stable and have not seen any upward movement.”
Al-Mousawi highlighted that “the stability in food prices can be attributed to several factors, including the distribution of a comprehensive food basket containing essential items for citizens.” He further noted that “our monitoring teams conduct daily evaluations of the local market to ensure the ongoing stability of food prices.”
Regarding the fluctuations in meat prices, Al-Mousawi emphasized, “While there has not been a significant increase in meat prices, we will closely examine this issue and collaborate with the Ministry of Health to prepare a detailed report on pricing and any underlying causes for increases,” underlining that “our campaigns will persist throughout Ramadan to prevent price manipulation.”
An official from the National Security Agency remarked in a video communication that “this campaign is part of the preparations for the upcoming Ramadan,” adding that “the operation encompasses markets in both Karkh and Rusafa.”
The official mentioned that “the campaign is executed in coordination with the ministries of health, agriculture, and trade,” aimed at monitoring market prices and identifying any potential instances of manipulation related to the blessed month of Ramadan.
Citizens have been encouraged to participate actively in this initiative, with the government urging them to report any suspicious price practices to the National Security Service and relevant authorities.
“The monitoring efforts will continue throughout Ramadan and will extend to other provinces,” the official confirmed.
Earlier, Minister of Commerce Atheer Al-Ghariri announced the rollout of new food basket items and equipment to coincide with the arrival of Ramadan.
In addition, the Ministry of Commerce disclosed plans to facilitate further price reductions in hypermarkets by over 40 percent, highlighting that all items within the hypermarket comply with Iraqi specifications.
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