Oman’s inflation rate rises by 0.9 percent in May 2024

oman market
oman market

Inflation rate in Oman touches 0.9% in May 2024

Muscat:  The inflation rate in the Sultanate of Oman rose by 0.9 percent in May 2024 compared to the same month in 2023 for the base year 2018, according to data from the Consumer Price Index in the Sultanate of Oman 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 3.8 percent, miscellaneous goods and services by 3.3 percent, health by 2.4 percent, culture and entertainment by 0.6 percent, tobacco by 0.6 percent, housing, water, electricity, gas and other fuels by 0.4 percent, restaurants and hotels by 0.3 percent, and clothing and footwear by 0.1 percent.

On the other hand, transportation group prices decreased by 1.6 percent, education by 0.4 percent, and communications by 0.2 percent.

In the food and non-alcoholic beverages group, the prices of vegetables rose by 12.3 percent, fruits by 7.9 percent, fish and seafood by 4.6 percent, milk, cheese and eggs by 4.5 percent, other food products by 2.4 percent, oils and fats by 1.7 percent, meat by 1.5 percent, sugar, jam, honey and sweets by 1.3 percent, bread and cereals by 0.9 percent, and non-alcoholic beverages by 0.9 percent.

At the governorate level, North Al Sharqiyah Governorate recorded an increase in the inflation rate by 2.07 percent, and it also increased by 1.58 percent in Musandam Governorate, 1.41 percent in Dhofar Governorate, 1.37 percent in North Al Batinah Governorate, 1.34 percent in Al Wusta Governorate, 1.28 percent in Al Buraimi Governorate, 1.23 percent in South Al Batinah Governorate, 0.90 percent in Ad Dakhiliyah Governorate, 0.83 percent in Ad Dhahirah Governorate, 0.74 percent in South Al Sharqiyah Governorate, and 0.59 percent in Muscat Governorate.

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