MUSCAT: The Sultanate of Oman's producer price index (PPI) in Q2 2023 recorded a decrease of 3 per cent, compared to the same period in 2022, according to data issued by the National Centre for Statistics and Information (NCSI).
Prices of oil and gas products fell by 2.5 per cent and non-oil products by 5.5 per cent.
Lower oil and gas prices are attributable to a 1.1 per cent drop in crude oil and natural gas prices and refined oil prices by 10.3 per cent.
The decline in the prices of non-oil products is due to the 7.3 per cent decline in manufacturing group prices, most sub-group prices varying, with the prices of mineral products, machinery and equipment falling by 14.2 per cent, prices of other transportable goods by 6 per cent and prices of food products, beverages and textiles by 1 per cent.
In the group of food products, beverages and textiles, beverage prices rose by 8 per cent, woven fabric prices by 35 per cent, shoes by 1.8 per cent, bakery and other food products by 1.7 per cent, while dairy prices fell by 2.3 per cent.
In a range of other transferable goods, the prices of chemical products fell by 11.1 per cent, glass, cement and marble products by 0.8 per cent, furniture and other goods by 0.4 per cent, refined ferrous waste products by 1 per cent, rubber and plastic product prices by 2.7 per cent and dyes and pharmacy products by 0.2 per cent.
In the range of metal products, machinery and equipment the prices of: Ore, iron, steel or aluminum products decreased by 23.2 per cent, power transformers, electricity and cable distributors by 11.4 per cent, 7.1 per cent for empty compact cylinders, 0.2 per cent for auto oil conditioning units and filters, 2.7 per cent for iron, steel or aluminium products, and 2.4 per cent for water heaters.
In contrast, the mining, electricity and water group's prices rose by 1.8 per cent as the prices of the subsets of metal ores increased by 45.8 per cent and stones and sand by 13.8 per cent. — ONA
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