Muscat: Oman’s inflation remained relatively contained during the January-August 2026 period, averaging around 2.9 percent as the government continued to monitor prices, supply chains and external economic pressures.

The rate compares with global inflation of about 4.7 percent projected by the International Monetary Fund (IMF), according to H.E. Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy.

Speaking to the Oman News Agency, Al Maawali said inflation had become an increasingly important economic indicator as global economies navigate shifts in trade, investment and supply chains.

He said the growing interconnectedness of economies meant that price movements were increasingly influenced by developments beyond national borders.

Geopolitical developments and disruptions affecting regional and international supply chains have contributed to changes in transport and logistics costs and pushed up the prices of some goods and services globally, he said.

Oman, as an economy closely linked to international markets, remains exposed to such external developments to varying degrees.

Al Maawali said the government was closely tracking price movements, market conditions and supply chains and taking measures aimed at preserving market stability and ensuring the continued availability of essential goods.

The policies are also intended to cushion the domestic economy from sharp external price fluctuations while supporting social stability and sustainable economic growth.

The Ministry of Economy is working with relevant government bodies and other partners to strengthen Oman’s economic and institutional resilience and improve its capacity to respond to changes in the global economy, Al Maawali said.

He added that efforts to manage inflation were part of a broader economic and social policy framework aligned with Oman’s fiscal and monetary policies.