Muscat: According to figures released by the National Centre for Statistics and Information, the fall in the Producer Price Index (PPI) was largely driven by a 5.3 per cent decline in mining and quarrying prices. This was primarily due to a 5.4 per cent drop in crude oil and natural gas prices, despite a sharp 13.3 per cent increase in mineral ore prices.

The manufacturing sector also recorded a decline of 4.1 per cent during the quarter. This was influenced by a marginal 0.2 per cent fall in prices of food, beverage and textile products, alongside a 4.6 per cent decrease in the prices of other transportable goods. Prices of metal products, machinery and equipment also dropped by 4.7 per cent.

In contrast, basic services sectors showed upward movement. Electricity prices increased by 3.5 per cent, while the water sector registered a stronger rise of 6.1 per cent.