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Oman News

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Oman’s inflation rises by 0.2% in March 2024: Food prices surge, transportation costs dip

The Sultanate of Oman has witnessed a modest but noticeable uptick in its inflation rate, with March 2024 figures showing a 0.2 per cent increase compared to last year.

TAS News Service

info@thearabianstories.com

Saturday, April 20, 2024

Muscat: Data released by the National Center for Statistics and Information sheds light on the sectors driving this inflationary trend, revealing both rises and falls in various consumer price index categories.

The latest statistics reveal a nuanced picture of Oman’s economic landscape. Notable increases were seen in the food and non-alcoholic beverages category, which saw prices surge by 3.4 per cent. Within this segment, the prices of fruits, milk products, sugar-based items, oils, cereals, vegetables, meat, and fish all experienced varying degrees of inflation.

On the flip side, certain sectors saw price decreases. The transportation sector saw a notable drop of 4.6 per cent, while categories like restaurants and hotels, household equipment, communications, and education also witnessed minor declines.

Geographically, the North Al Sharqiyah Governorate took the lead in inflationary pressures, recording a 1.3 per cent increase. This trend was echoed in other regions like Al Wusta and North Al Batinah, while Muscat experienced a slight decrease in inflation rates.

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