Inflation rate in Oman rises by 1.1%

Inflation Rate in Oman Reaches 1.1% by August 2024

Muscat: The inflation rate in the Sultanate of Oman rose by 1.1 percent by the end of August 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 various goods and services groups by 4.4 percent, food and non-alcoholic beverages by 3.3 percent, health by 2.4 percent, housing, water, electricity, gas and other fuels by 1.7 percent, culture and entertainment by 0.7 percent, restaurants and hotels by 0.4 percent, and clothing and footwear by 0.3 percent. In contrast, prices of transportation groups decreased by 2.7 percent, furniture, household equipment and routine home maintenance by 0.6 percent, education by 0.4 percent, and prices of tobacco and communications groups remained stable.

In the food and non-alcoholic beverages group, the prices of vegetables rose by 11.5 percent, fruits by 7.4 percent, milk, cheese and eggs by 5.4 percent, meat by 2.8 percent, sugar, jam, honey and sweets by 2.3 percent, food products not classified under another item by 1.9 percent, oils and fats by 1.2 percent, non-alcoholic beverages by 1.1 percent, bread and cereals by 1 percent, and fish and seafood prices fell by 4.1 percent.

Musandam Governorate recorded the highest inflation rate at the end of August 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 percent in Al Wusta and North Al Sharqiyah Governorates, and the rate rose by 1.6 percent in North Al Batinah and Al Buraimi Governorates, and by 1.3 percent in Dhofar Governorate, and by 1 percent in Al Dhahirah and Al Dakhiliyah Governorates, and by 0.8 percent in Muscat Governorate, while in South Al Batinah Governorate, the rate rose by 0.7 percent.