Oman’s Inflation Rate Inches Close to 2%

Oman’s Inflation Rate Inches Close to 2%

The inflation rate of the Consumers Price Index (CPI) in Oman stood at 1.98 percent during December 2022, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

Oman News Agency (ONA) reported on Sunday an increase in the prices of primary groups in December 2022 compared to the corresponding period in 2021.

Food and non-alcoholic beverages rose by 5.4 percent, restaurants and hotels by 4.05 percent, health by 3.82 percent, furniture, household equipment, and routine household maintenance increased by 2.27 percent, and housing, water, electricity, gas, and other fuels saw a 0.63 percent hike.

Inflation declined in the communications group by 0.06 percent and stabilized in the tobacco group.

Prices also went up for oils and fats by 19.49 percent, meats by 8.42 percent, milk, cheese, and eggs by 7.65 percent, fruits by 6.51 percent, non-alcoholic beverages by 5.43 percent, bread and cereals by 5.10 percent, other foodstuffs by 2.75 percent and sugar, jam, honey and sweets by 2.33 percent.

The prices of fish and seafood dropped by 5.80 percent and vegetables by 1.03 percent.

Meanwhile, the Global Integrated Energy Group (OQ) inaugurated a new ammonia plant in Dhofar with a production capacity of 1,000 metric tons per day of