Oman inflation hits 1.3% fueled by food and drink prices

RIYADH (Agencies): Food and beverage prices pushed Oman’s inflation to 1.3 percent in September, latest figures have shown.

Data released by the National Centre for Statistics showed the rate continued to gather pace after it recorded levels of o.2 percent in July and 0.6 percent in August.

However, the figure is still lower than September 2022, when it stood at 2.4 percent.

The consumer price index recorded rises in many categories, with the food and non-alcoholic beverages subgroup registering an increase of 3.4 percent compared to the same period in the previous year.

The report added that fish and seafood surged by 11.3 percent, while the milk, cheese and eggs subcategory rose by 8.6 percent, and fruit increased by 4.6 percent.

Moreover, other foodstuffs saw an increase of 4.3 percent, while vegetables recorded a 4 percent rise compared to the same period of 2022. Similarly, oils and fats rose by 3.9 percent, while sugar, jam, honey and sweets registered a 3.3 percent upsurge.

Additionally, non-alcoholic beverages registered an annual increase of 0.9 percent, while bread and cereals recorded a 0.8 percent rise. The meat group, on the other hand, rose annually by 0.1 percent and by 2.3 percent over the previous month.

The transport prices fell by 1.37 percent, while the communications sector saw a drop of 0.18 percent.

Geographically, the NCSI added, Al-Dhahirah recorded the highest inflation rate with 1.6 percent, while Al-Dakhlia and Dhofar registered the lowest rate with 1 percent.  

The report noted that the governorates of Muscat and North Al-Batinah clocked an inflation rate of 1.4 percent, adding that the inflation rate reached 1.3 percent in North Al-Sharqiyah and South Al-Sharqiyah governorates. At the same time, it stabilized in the Al-Buraimi governorate.

According to Oman News Agency, a rise was also recorded in other main groups, such as miscellaneous goods and services, which rose by 2.68 percent and tobacco, which recorded a 2.35 percent increase. Furthermore, restaurants and hotels registered a 2.27 percent jump, while furniture, household equipment and routine household maintenance recorded a 2.02 percent increase.

Likewise, housing, water, electricity, gas and other fuel types rose by 1.29 percent, while culture and recreation increased by 1.15 percent. On the other hand, health, clothes and footwear, along with education registered 0.63, 0.45 and 0.05 percent increases, respectively.

Transport prices went down by 1.37 percent while communications slightly slipped by 0.18 percent.