MUSCAT: The annual inflation rate in the Sultanate of Oman reached 0.82 per cent at end of August 2023, according to data from the monthly survey of consumer prices issued by the National Centre for Statistics and Information (NCSI).
The inflation rate was driven by an increase in most of the main groups that make up the consumer price index, led by foodstuffs and non-alcoholic beverages, which rose by 2.9 per cent. The increase was due to an increase in the prices of most of the components of the group, led by fish and seafood, by 11.65 per cent, and milk, cheese, and eggs, by 8.87 per cent, vegetables by 5.5 per cent, oils and fats by 4.92 per cent, other foodstuffs by 4.07 per cent, sugar, jam, honey, and sweets by 3.49 per cent, bread and cereals by 1.82 per cent, non-alcoholic beverages by 0.93 per cent, and fruits by 0.4 per cent, while meat prices decreased by 1.64 per cent.
The prices of furniture, fixtures, household equipment, and regular home maintenance rose by 2.63 per cent, miscellaneous goods and services by 2.61 per cent, restaurants and hotels by 2.46 per cent, tobacco by 2.36 per cent, culture and entertainment by 1.41 per cent, health by 0.63 per cent, education by 0.05 per cent, clothing and shoes rose by 0.35 per cent, and housing, water, electricity, gas and other fuels rose by 0.03 per cent.
The transportation group prices decreased by 1.54 per cent and communications by 0.2 per cent.
The inflation rate rose by 0.28 per cent compared to the previous month, as a result of an increase in food and non-alcoholic beverages groups by 1.11 per cent, restaurants and hotels by 0.15 per cent, furniture, fixtures, household equipment, and regular home maintenance by 0.08 per cent, culture and entertainment by 0.04 per cent, and clothing and shoes by 0.01 per cent. Meanwhile, there was a decrease in transportation group prices by 0.05 per cent.
The prices of tobacco, housing, water, electricity, gas and other fuels, health, communications, education, and miscellaneous goods and services remain stable .
Dhofar Governorate recorded the highest inflation rate among the governorates at 1.01 percent, compared to the lowest inflation rate in Buraimi Governorate at 0.4 percent. Muscat Governorate recorded an increase in inflation of 1 perc ent, while North Al Batinah Governorate recorded 0.93 per cent, Al Dakhiliyah 0.73 per cent, Al Dhahirah 0.6 per cent, and the Governorates of North Al Sharqiyah and South Al Sharqiyah by 0.47 per cent.
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