Producer Price Index in Oman Up by 22.3pc during 4th Quarter in 2022

Muscat: Producer Price Index (PPI) in Oman grew by 22.3% during the 4th quarter of 2022, compared to the corresponding period in 2021.

Data of the quarterly PPI survey, issued by the National Centre for Statistics and Information, indicate that the prices of oil and gas products increased by 27.8%. This was due to a 31.5% rise in the prices of crude oil and natural gas, coupled with 7.1% growth in the prices of refined petroleum products.

The volume of non-oil products dropped by 3.7% as a result of a 5.1% decline in prices of the converting industries’ group, as a against a 2.0% rise in the prices of the mining, electricity and water group.

In the converting industries group, the prices of foodstuff, beverages and textiles picked up by 4.7%, while the prices of mineral products, machinery and equipment dropped by 15.2%, as well as a 3.1% decline in the prices of other transportable commodity products.

All PPI data are collected on a quarterly for specimens from different governorates of Oman. They cover three main production sectors: “converting industries”, “mining and quarrying” and “electricity and water”. – ONA

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