Inflation Rate in Oman Reaches 1.5% by July 2024

Oman’s inflation rate rises by 1.5 percent

Muscat: The inflation rate in the Sultanate of Oman rose by 1.5 percent during July 2024 compared to the same month in 2023 for the base year 2018, according to data from the Consumer Price Index in the Sultanate issued by the National Centre for Statistics and Information.

The data indicated an increase in the prices of food and non-alcoholic beverages groups by 4.5 percent, miscellaneous goods and services by 3.1 percent, health by 2.4 percent, housing, water, electricity, gas and other fuels by 1.7 percent, culture and entertainment by 0.8 percent, restaurants and hotels by 0.6 percent, clothing and footwear by 0.3 percent, furniture, household equipment and routine home maintenance by 0.3 percent. In contrast, the prices of transportation groups decreased by 1.7 percent, education by 0.4 percent, and the prices of the tobacco and communications groups stabilized.

In the food and non-alcoholic beverages group, the prices of vegetables rose by 20 percent, fruits by 7.6 percent, milk, cheese and eggs by 4.7 percent, meat by 2.2 percent, sugar, jam, honey and sweets by 2 percent, fish and seafood by 1.8 percent, food by 1.6 percent, oils and fats by 1.3 percent, non-alcoholic beverages by 1 percent, and bread and grains by 0.7 percent. North Al Sharqiyah Governorate recorded the highest inflation rate at the end of July 2024 compared to the same period of the previous year, as the index rose by 2.3 percent and also rose by 2.2 percent in South Al Sharqiyah Governorate and by 2.1 percent in Musandam and Al Wusta Governorates. The rate rose by 2 percent in North Al Batinah Governorate, 1.7 percent in Dhofar Governorate, 1.6 percent in South Al Batinah and Al Buraimi Governorates, 1.5 percent in Al Dhahirah Governorate, 1.3 percent in Al Dakhiliyah Governorate, and 1.2 percent in Muscat Governorate.