Inflation Rate in Oman Rises 1.5pc During July 2024

The inflation rate in the Sultanate of Oman rose 1.5% by the end of July 2024 according to data on the Consumer Price Index (CPI) which were 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 percent, miscellaneous goods and services by 3.1 percent, health by 2.4 percent, housing, water, electricity, gas and other fuels by 1.7 percent, culture and entertainment by 0.8 percent, restaurants and hotels by 0.6 percent, clothing and footwear by 0.3 percent, furniture, household equipment and routine home maintenance by 0.3 percent. In contrast, the prices of transportation groups decreased by 1.7 percent and education by 0.4 percent. The prices of the tobacco and communications groups stabilized. In the food and non-alcoholic beverages group, the prices of vegetables rose by 20 percent, fruits by 7.6 percent, milk, cheese and eggs by 4.7 percent, meat by 2.2 percent, sugar, jam, honey and sweets by 2 percent, fish and seafood by 1.8 percent, foodstuff by 1.6 percent, oils by 1.3 percent, non-alcoholic beverages by 1 percent, and bread and grains by 0.7 percent. The Governorate of North A'Sharqiyah 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 percent. It also rose by 2.2 percent in the Governorate of South A'Sharqiyah and by 2.1 percent in Musandam and Al Wusta. The rate rose by 2 percent in the Governorate of North Al Batinah, 1.7 percent in Dhofar, 1.6 percent in South Al Batinah and Al Buraimi, 1.5 percent in A'Dhahirah, 1.3 percent in A'Dakhiliyah, and 1.2 percent in the Governorate of Muscat. Source: Oman News Agency