Inflation rate in Oman rises 1.5%

MUSCAT: The inflation rate in the Sultanate of Oman rose 1.5 per cent by the end of July 2024, according to data on the Consumer Price Index (CPI) which was issued by the National Centre for Statistics and Information (NCSI).

The data indicated an increase in the prices of food and non-alcoholic beverages groups by 4.5 per cent, miscellaneous goods and services by 3.1 per cent, health by 2.4 per cent, housing, water, electricity, gas and other fuels by 1.7 per cent, culture and entertainment by 0.8 per cent, restaurants and hotels by 0.6 per cent, clothing and footwear by 0.3 per cent, furniture, household equipment and routine home maintenance by 0.3 per cent. In contrast, the prices of transportation groups decreased by 1.7 per cent and education by 0.4 per cent. The prices of the tobacco and communications groups stabilised.

In the food and non-alcoholic beverages group, the prices of vegetables rose by 20 per cent, fruits by 7.6 per cent, milk, cheese and eggs by 4.7 per cent, meat by 2.2 per cent, sugar, jam, honey and sweets by 2 per cent, fish and seafood by 1.8 per cent, foodstuff by 1.6 per cent, oils by 1.3 per cent, non-alcoholic beverages by 1 per cent and bread and grains by 0.7 per cent.

Al Sharqiyah North Governorate recorded the highest inflation rate at the end of July 2024 compared to the same period of the previous year, as the index rose by 2.3 per cent.

It also rose by 2.2 per cent in Al Sharqiyah South Governorate and by 2.1 per cent in Musandam and Al Wusta governorates. The rate rose by 2 per cent in Al Batinah North Governorate, 1.7 per cent in Dhofar Governorate, 1.6 per cent in Al Batinah South and Al Buraimi governorates, 1.5 per cent in Al Dhahirah Governorate, 1.3 per cent in Al Dakhiliyah Governorate and 1.2 per cent in the Governorate of Muscat.