Oman’s annual inflation rate hits 1.27% by September 2023

1.27% the annual Inflation rate in the Sultanate of Oman by the end of September 2023

Muscat: The annual inflation rate in the Sultanate of Oman reached 1.27 percent by the end of September 2023, according to data on the consumer price index (CPI) which were issued by the National Center for Statistics and Information (NCSI).

The inflation rate was driven by an increase in most of the main groups which constitute the consumer price index (CPI) increased such as the food and non-alcoholic beverages group which went up by 3.41 percent. The rise in this category is driven by an increase in the prices of the following: fish and seafood (11.26%), milk, cheese and eggs (8.63%), fruits (4.55%), other foods (4.25%), vegetables (3.98%), oils and fats (3.85%), sugar, jam, honey and sweets (3.34%), non-alcoholic beverages (0.89%), bread and cereals (0.78%) and meats (0.05%).

A rise was also recorded in the following main groups: miscellaneous goods and services (2.68%), tobacco (2.35%), restaurants and hotels (2.27%), furniture, household equipment and routine household maintenance (2.02%), housing, water, electricity, gas and other types of fuel (1.29%), culture and recreation (1.15%), health (0.63%), clothes and footwear (0.45%) and education (0.05%).

Meanwhile, the prices of transport went down by 1.37% and the prices of communications decreased by 0.18%.

In terms of governorates, Al Dhahirah recorded the highest inflation rate of 1.6%, while the lowest rate was recorded in Al Dakhiliyah and Dhofar (1%).

The governorates of Muscat and North Al Batinah recorded a rise in the inflation rate by 1.4%. The inflation rate reached 1.3% in North Al Sharqiyah and South Al Sharqiyah, while it stabilized in the governorate of Al Buraimi.