Oman Producer price up 50.2% in Q1 2022

Muscat: The producer price index (PPI) in the Sultanate of Oman recorded during the first quarter of this year an increase of 50.2 percent compared to the same period in 2021, as a result of an increase in the prices of oil and gas products by 61.7 percent and non-oil products by 8.8 percent, according to the statistics issued by National Center for Statistics and Information (NCSI)

The increase in the prices of oil and gas products is due to the increase in the prices of refined oil products by 39 percent and the increase in crude oil and natural gas products by 66.3 percent, a decrease of 0.9 percent.

In the manufacturing group, most of the sub-groups’ prices increased in varying degrees, as the prices of metal products, machinery and equipment increased by 20.7 percent, as well as the prices of food, beverages and textiles by 13.3 percent, and the prices of other transportable goods by 6.0 percent.

As for the food and textile products group, the prices of fish products, fruits, vegetables and oils increased by 28.9 percent, dairy products prices increased by 12.8 percent, bakery products and other food products increased by 4.9 percent, beverages prices by 4.3 percent and shoes prices by 1.8 percent.

In another group of transportable goods, the prices of chemical products increased by 11.7 percent, dyes and pharmaceutical products by 11.3 percent, rubber and plastic products by 6.1 percent, re-melted iron waste products by 4.7 percent, and paper products by 2.2 percent, while the prices of metallurgical products decreased by 2.2 percent. Glass, cement and marble by 4.1 percent.

In the group of metal products, machinery and equipment, the prices of “iron, steel or aluminum” products increased by 36.9 percent, the prices of “ore and iron, steel or aluminum products” increased by 25.4 percent, and “empty cylinders” products increased by 19.1 percent. “Power transformers, electricity distribution devices and cables” by 14 percent.

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