Oman’s annual inflation rate reaches 0.41% by July 2023

oman market
oman market

Muscat: The annual inflation rate in the Sultanate of Oman reached 0.41% by the end of July 2023, driven by the increase in most main groups that constitute the Consumer Price Index (CPI), according to the data issued by the National Centre for Statistics and Information (NCSI).

The group of furniture, household equipment and routine household maintenance came in the forefront with a 2.66% rise.

A rise was also recorded in the following main groups: miscellaneous goods and services by 2.51%, tobacco by 2.36%, culture and recreation by 1.59%.

The prices of the main group of food and non-alcoholic beverages went up by 1.36%, as a result of a rise in the prices of most ingredient, namely milk, cheese and eggs by 10.02%, oils and fats by 5.03%, other foods by 4.2%, sugar, jam, honey and sweets by 3.61%, bread and cereals 2.24%, fish and seafood by 1.57% and non-alcoholic drinks by 0.72%.

Meanwhile, a decline was recorded in the prices of the main groups of vegetables by 1.72%, fruits by 2.31% and meats by 0.61%.

Moreover, the following main groups registered a rise in price: health by 0.63%, clothes and footwear by 0.32%, education by 0.05% and housing, water, electricity, gas and other types of fuel by 0.03%.

The prices of the main groups of transport and communications declined by 1.72% and 0.22%, respectively.

In terms of governorates, Muscat recorded the highest inflation rate of 0.7%, while the lowest inflation rate was registered by Al Buraimi (0.5%). -ONA

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