Mild 0.6% inflation rate in November
Published: 04:12 PM,Dec 23,2023 | EDITED : 08:12 PM,Dec 23,2023
MUSCAT: The Sultanate of Oman reported a modest annual inflation rate of 0.6 percent in November 2023, according to the National Center for Statistics and Information's monthly consumer price index survey.
The slight uptick in inflation was primarily driven by increases in various consumer price index categories. Notably, the food and non-alcoholic beverages group witnessed a rise of 2.91 per cent, propelled by significant increases in fish and seafood at 15.29 per cent and unclassified food products at 5.07 per cent.
Other components, including milk, cheese, and eggs (4.94 per cent), vegetables (3.95 per cent), and foodstuffs (3.21 per cent), contributed to the overall increase. In contrast, meat prices experienced a modest decline of 0.37 per cent.
Personal goods and services prices increased by 2.39 per cent, with tobacco rising by 2.35 per cent. Furniture, fixtures, household equipment, and routine household maintenance saw a 1.46 per cent increase, while culture and entertainment rose by 1.02 per cent.
Health costs experienced a marginal increase of 0.28 per cent, and clothing and shoes inched up by 0.1 per cent. Housing, water, electricity, gas, and other fuels saw a minimal rise of 0.01 percent. However, transportation costs decreased by 1.45 per cent, education by 0.57 per cent, communications by 0.16 per cent, and restaurants and hotels by 0.04 per cent.
In comparison to October 2023, the inflation rate edged up by 0.07 per cent. This increase is attributed to upticks in the prices of food and non-alcoholic beverages by 0.30 percent, culture and entertainment by 0.05 per cent, and transportation by 0.04 per cent. Conversely, decreases were observed in the prices of restaurants and hotels by 0.14 per cent and miscellaneous personal goods and services by 0.11 per cent. Minor declines were also noted in furniture, fixtures, household equipment, and regular home maintenance by 0.02 per cent, and clothing and shoes by 0.01 per cent, while the prices of other groups remained stable. - ONA
The slight uptick in inflation was primarily driven by increases in various consumer price index categories. Notably, the food and non-alcoholic beverages group witnessed a rise of 2.91 per cent, propelled by significant increases in fish and seafood at 15.29 per cent and unclassified food products at 5.07 per cent.
Other components, including milk, cheese, and eggs (4.94 per cent), vegetables (3.95 per cent), and foodstuffs (3.21 per cent), contributed to the overall increase. In contrast, meat prices experienced a modest decline of 0.37 per cent.
Personal goods and services prices increased by 2.39 per cent, with tobacco rising by 2.35 per cent. Furniture, fixtures, household equipment, and routine household maintenance saw a 1.46 per cent increase, while culture and entertainment rose by 1.02 per cent.
Health costs experienced a marginal increase of 0.28 per cent, and clothing and shoes inched up by 0.1 per cent. Housing, water, electricity, gas, and other fuels saw a minimal rise of 0.01 percent. However, transportation costs decreased by 1.45 per cent, education by 0.57 per cent, communications by 0.16 per cent, and restaurants and hotels by 0.04 per cent.
In comparison to October 2023, the inflation rate edged up by 0.07 per cent. This increase is attributed to upticks in the prices of food and non-alcoholic beverages by 0.30 percent, culture and entertainment by 0.05 per cent, and transportation by 0.04 per cent. Conversely, decreases were observed in the prices of restaurants and hotels by 0.14 per cent and miscellaneous personal goods and services by 0.11 per cent. Minor declines were also noted in furniture, fixtures, household equipment, and regular home maintenance by 0.02 per cent, and clothing and shoes by 0.01 per cent, while the prices of other groups remained stable. - ONA