Iraq's markets feel the strain as regional tensions drive up prices

By Al Jazeera English

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In Iraq's markets, shoppers are feeling the economic strain as prices for basic goods have climbed in recent weeks. With talks between the US and Iran stalled and the Strait of Hormuz still largely closed, transport and insurance costs have surged, pushing up prices by around 30 percent. Iraq depends heavily on oil revenues and imports, and oil exports through Hormuz plummeted by nearly 90 percent in April. Many Iraqis are now preparing for the possibility that renewed regional conflict could bring a heavier economic burden at home. Al Jazeera's Mahmoud Abdelwahed reports from Baghdad. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X: https://X.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.news/AJEMobile #Iraq #IraqEconomy #BaghdadMarkets #StraitOfHormuz #IranWar #USIsraelWarOnIran #Oi

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