Inflation in Oman Reaches 0.3% by October 2023

omani shop at supermarket - plastic bags - afp photo
omani shop at supermarket - plastic bags - afp photo

Muscat: The annual inflation rate in the Sultanate of Oman reached 0.3% by the end of October 2023 according to data issued by the National Centre for Statistics and Information (NCSI).

The inflation rate was driven by the increase in most main groups comprising the Consumer Price Index (CPI), including the miscellaneous goods and services (2.6%), tobacco (2.4%), food and non-alcoholic beverages (1.7%), furniture, household equipment and routine household maintenance (1.7%), culture and entertainment (1.1%) and health (0.6%).

Meanwhile, the prices of several other groups went down, such as education (2.3%), transport (1.4%) and restaurants, hotels and communications (0.2%).

Prices remained stable for the following groups: clothes and footwear, housing, water, electricity, gas and other types of fuel.

Further, inflation rate decreased by 0.2% compared to September 2023 due to the drop in the prices of the following main groups: education (2.3%), food and non-alcoholic beverages (0.6%) and transport (0.1%).

As far as governorates are concerned, the highest inflation rate in governorates was registered by Al Dhahirah (0.6%), while the governorates of Dhofar and Muscat registered a rise in inflation rate by 0.4%.

An increase was also registered in the following governorates: North Al Sharqiyah, South Al Sharqiyah, Al Dakhiliyah and North Al Batinah by 0.2%.   – ONA

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