Arab News, Monday, Sep 18, 2023 | Rabi Al-Awwal 3, 1445
Oman’s annual inflation rate tips 0.82% in August
Oman’s annual inflation rate reached 0.82 percent in August, compared to 2.4
percent in the same month last year, revealed the country’s National Center for
Statistics and Information.
However, compared with the previous month, Oman’s
inflation rate dropped to its lowest level in 28 months to 0.41 percent in
The primary drivers of this rate in August were
key categories within the consumer price index, with the most notable being the
sector encompassing food and beverages, which witnessed a 2.9 percent increase.
This surge can be primarily attributed to rising
prices in several subcategories, including a 11.65 percent hike in fish and
seafood, a 8.87 percent increase in dairy and egg prices and a 5.5 percent
uptick in vegetable costs. In contrast, meat prices experienced a 1.64 percent
Other sectors also contributed to inflation with the cost of household
furnishings and routine maintenance increasing by 2.63 percent, miscellaneous
goods and services by 2.61 percent, dining and lodging by 2.46 percent, and
tobacco by 2.36 percent.
Additional modest hikes were observed in the areas
of culture and recreation with a 1.41 percent increase,
healthcare with 0.63 percent, and education with 0.05 percent.
Prices for apparel and footwear also edged higher
by 0.35 percent, while utility costs, including housing, water, and energy, rose
slightly by 0.03 percent.
On the other hand, transport costs dipped by
1.54 percent, and telecommunication expenses declined by 0.2 percent.
Month-over-month, the food and beverage saw
a 1.11 percent monthly rise in August, and smaller increases in dining out and
hotel costs, household items and maintenance, as well as cultural and leisure
On a monthly basis, the transportation segment saw
a modest 0.05 percent decline in August compared to July.
Stable pricing was observed in sectors like
tobacco, utilities, health, telecommunications, education, and a variety of
goods and services.
Geographically, the Dhofar governorate recorded
the steepest inflation rate at 1.01 percent, while Al-Buraimi reported the
lowest at 0.4 percent.
Inflation rates in other regions varied, with the
capital, Muscat, showing a 1 percent increase, and
Al-Batinah North, A’Dakhiliyah, A’Dhahirah, and both North and South
Al-Sharqiyah registering increases below 1 percent.