The Effect of Fluctuations in Oil Prices and Foreign Reserves on Consumer Price Indices

Abstract

Iraq mainly depends on oil revenues to finance the general budget, so the fluctuations in its prices affect most economic and financial indicators, as well as the foreign reserves held by the Central Bank. Therefore, the current research aims to study the impact of these fluctuations in the value of foreign reserves and in consumer prices, which affect the life of the citizen directly. For the purpose of achieving the objectives of the research and reaching the results, a number of statistical methods were used, the most important of which is the test (F) and the degree of morality (Sig) to test the significance of the effect.