MUSCAT : Rising prices in Oman are largely linked to global supply chain costs, shipping fees and insurance charges rather than local market factors alone, the head of the Consumer Protection Authority (CPA) said, as public concern over inflation and higher living costs continues.
His Excellency Sulayem bin Ali bin Sulayem Al Hakmani, Chairman of the Consumer Protection Authority, said product prices are influenced first by the cost in the country of origin, followed by transportation to the destination market and associated expenses such as freight, shipping and insurance.
“Prices have increased everywhere and are subject to several factors, starting with the product price in the country of origin, its journey to the country of consumption, and what it passes through in terms of shipping fees, insurance and other costs. This is not limited to Oman alone, but affects all countries,” he said during a media meeting organised by the authority.
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He added that even locally produced goods, including vegetables, fruits and other domestic products, are priced according to multiple factors that affect production and supply.
Al Hakmani said the authority follows a clear mechanism before approving any increase in prices by companies and suppliers.
Under the process, companies must first submit a formal request for a price increase, supported by justifications and financial evidence. The authority then studies the request, analyses the reasons and coordinates with the relevant institution before making a decision.
“The outcome may include rejecting the request, approving a lower increase than requested, or granting temporary approval if strong justifications exist,” he said.
He noted that such approvals are not permanent and remain subject to review, with the authority retaining the right to withdraw approval depending on changes in market conditions and the validity of the reasons presented.
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