A week of upbeat economic signals for Oman

A week of upbeat economic signals for Oman

Encouraging economic data released, earlier this week, by the National Centre for Statistics and Information [NCSI] reaffirm the Sultanate of Oman’s worthwhile policy decisions taken by various ministries under the guidance and wise leadership of His Majesty Sultan Haitham bin Tarik.

Note the trends in the following economic indicators of Oman. The Producer Price Index [PPI] data from a quarterly survey, conducted by the NCSI, shows a rise in the prices of oil, gas, and derivative products. Refined oil products prices are up 50.3 per cent and 48.4 per cent rise in crude oil and natural gas, according to Oman New Agency (ONA) report earlier this week.

The report pegs the increase in non-oil products prices to a 9.4 per cent rise in prices of the converting industries group and a 1.8 per cent rise in the mining, electricity, and water group.

Prices in several subgroups, among converting industries, noted variable increases. Consumer food items prices increased by 15.2 per cent, mineral products, machinery, and equipment by 11.6 per cent and other movables by 5.7 per cent. In food group, prices of fishes, fruits, vegetables, and oils grew by 34.8 per cent, beverages by 8.6 per cent, dairy products by 8.5 per cent,