Oman’s Producer Price Index Down by 13% in Q3 2023

Oman
Oman

Muscat: Producer price index (PPI) in the Sultanate of Oman declined by 13% during the third quarter of 2023, compared to the same period in 2022, according to data issued by the National Center for Statistics and Information (NCSI).

The NCSI data indicate that the prices of oil and gas products went down by 13.7 percent, while non-oil products also declined by 8.2 percent.

The decline in oil and gas products’ price was due to a 16% fall in the prices of crude oil and natural gas, while the prices of refined petroleum products increased by 2.3%.

The decline in prices of non-oil products is due to a decrease in the prices of the manufacturing industries group to a 10.2 percent, in which most of the prices of the subgroups decreased by varying percentages, as the prices of metal products, machinery and equipment decreased by 11 percent, the prices of other transportable goods products decreased by 10.9 percent, and the prices of food products, beverages and textiles by 7.9 percent.

In the group of food products, beverages and textiles, the prices of fish, fruits, vegetables and oils decreased by 18.5 percent, and dairy products by 8.5 percent, while the prices of woven fabric products increased by 7 percent, shoes by 0.7 percent, and clothing and suits by 0.2 percent, while the prices of beverages, bakery products, and food products remained stable. Other.

In a group of other transportable goods, the prices of: chemical products decreased by 20.9 percent, paper products prices by 7 percent, rubber and plastic products prices by 4.8 percent, furniture products and other goods by 1.4 percent, and remelted iron waste products by 1.1 percent, while The prices of paints and pharmaceutical products increased by 1.8 percent, glass, cement and marble products by 0.4 percent, and wood products by 0.2 percent.

In the group of metal products, machinery and equipment, the prices of: raw iron, steel or aluminum products decreased by 15.9 percent, the prices of power transformers, electricity distribution devices and cables by 9.6 percent, products made of iron, steel or aluminum by 7.2 percent, and empty compressed cylinders by 4.4 percent.

The prices of air conditioning units and car oil filters increased by 0.1 percent, while the prices of water heaters increased by 1.7 percent.

The prices of the mining, electricity and water group also decreased by 0.4 percent due to a decrease in the prices of the sub-groups of stones and sand by 4.5 percent. In contrast, the prices of metal ores increased by 0.9 percent, and the prices of electric energy and water stabilized.

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