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Oman News

Oman’s inflation rate rises by 0.4 percent in September 2024

The National Centre for Statistics and Information (NCSI) has reported a 0.4 percent increase in Oman’s inflation rate in September 2024 compared to the same period in 2023

TAS News Service

info@thearabianstories.com

Sunday, November 10, 2024

Muscat – This is based on the Consumer Price Index (CPI) with 2018 as the base year.
The report indicates that the overall price level of goods and services across various sectors has seen an increase. The CPI revealed that the prices of various goods and services groups rose by 4.33 percent, food and non-alcoholic beverages by 2.81 percent, health by 2.44 percent, culture and entertainment by 0.71 percent, restaurant and hotel prices by 0.4 percent, clothing and footwear by 0.28 percent, and tobacco by 0.09 percent.

However, certain sectors experienced a decrease in prices. Transportation costs dropped by 3.41 percent, while prices for furniture, household equipment, and routine home maintenance fell by 0.59 percent. Education costs also declined by 0.41 percent. The data indicated stability in the housing, water, electricity, gas, and other fuel groups, as well as the communications sector.

In the food and non-alcoholic beverages category, the data highlighted specific changes in the prices of key items. Vegetables experienced the highest increase, rising by 8.15 percent, while fruits saw an increase of 6.15 percent. Other food items, such as milk, cheese, and eggs, rose by 5.5 percent, and meat prices increased by 2.4 percent. However, the prices of fish and seafood saw a decrease of 3.42 percent.
At the regional level, Musandam Governorate recorded the highest inflation rate in Oman, with the index rising by 1.5 percent by the end of September 2024 compared to the same period in the previous year. Other governorates also saw notable increases, with Al Wusta Governorate seeing a 1.33 percent rise, South Al Sharqiyah up by 1.22 percent, and North Al Sharqiyah rising by 0.96 percent. Dhofar Governorate recorded an increase of 0.79 percent.

Smaller increases were observed in other regions, with Al Buraimi Governorate seeing a 0.56 percent rise, Al Dakhiliyah Governorate increasing by 0.55 percent, and North Al Batinah by 0.39 percent. Al Dhahirah Governorate recorded a modest 0.24 percent increase, while Muscat Governorate saw a more moderate rise of 0.19 percent. South Al Batinah Governorate was the only region to experience a decrease, with the index falling by 0.12 percent.

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