The attacks occurred as two bombs went off at a crowded market, according to Reuters. Islamic State militants claim the attack.
Police said the death toll could rise.
The explosions ripped through a market selling mobile phones in the mainly Shiite Muslim district.
Interior Ministry spokesman Sad Main earlier said the bombings killed 38 people and wounded another 62.
The attack was the deadliest in a wave of recent explosions that have targeted commercial areas in and outside Baghdad.
Earlier on Sunday, Iraqi forces managed to repel an attack by ISIS on the Baghdad suburb of Abu Ghraib, officials told AP.