Inflation rate rises by 1.7 pc in Sultanate

MUSCAT: The inflation rate in the Sultanate increased by 1.7 per cent in December 2017, compared with the same period in the year 2016, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The latest data shows an increase of 0.07 per cent compared with that in November 2017. The NCSI said that the rise in the price index in December, in comparison with the same period in 2016, is attributed to the rise in prices of major groups including housing, water, electricity, gas and other fuels by 1.52 per cent, food and non-alcoholic beverages by 1.84 per cent, transport by 2.77 per cent and furnishings, household equipment and routing house maintenance by 3.61 per cent.

The cost of education increased by 4.9 per cent, eating in restaurants and hotels rose by 0.06 per cent, miscellaneous goods and services are up by 1.95 per cent, culture and entertainment cost rose by 0.24 per cent, while cost of health services rose by 0.41 per cent and tobacco by 1.81 per cent. On the other hand, price of the clothing and footwear fell by 0.14 per cent, communications by 0.18 per cent during December 2017, compared to the same period in the previous year. At the level governorates, North Al Batinah saw a rise in inflation by 2.71 per cent, followed by Al Dakhiliyah by 1.76 per cent, North and South of Al Sharqiyah by 1.5 per cent, Muscat by 1.4 per cent, Al Dhahirah by 1.32 per cent, Dhofar by 1.24 per cent and Al Buraimi 0.67 per cent.

Compared to the previous month, the general consumer price index rose by 0.07 per cent, as cost of transport went up by 0.72 per cent, clothing and footwear by 0.02 per cent and miscellaneous goods and services by 0.02 per cent. Prices of food and non-alcoholic beverages decreased by 0.28 per cent, eating in restaurants and hotels fell by 0.16 per cent, furnishings, household equipment and house maintenance fell by 0.08 per cent, culture and entertainment by 0.13 per cent. Cost of housing, water, electricity, gas and other fuels, health, communication and education remained stable.

— ONA