Inflation up 0.78 pc in May

MUSCAT: The inflation rate in the Sultanate, calculated in terms of consumer price index (CPI), rose marginally by 0.78 per cent in May, over the same period in 2017, according to the date released by the National Centre for Statistics and Information (NCSI). The marginal increase in inflation was driven by a growth in cost of major segments like education that rose 4.90 per cent, rise in transport cost by 2.69 per cent and furnishing and household equipment with a rise of 0.78 per cent in May 2018, over the same period of last year. However, food and non-alcoholic beverages group remained steady without any change in price, NCSI data showed.

Among foods and non-alcoholic beverages group, a marked fall of 9.42 per cent was witnessed in vegetables while prices of cloth and footwear edged down by 0.65 per cent. However, prices of fruits, fish and seafood, non-alcoholic beverages and milk, cheese and eggs 3.32 per cent and 1.80 per cent 1.48 per cent and 1.05 per cent, respectively in May. Compared to the previous month, the consumer prices index rose only by 0.35 per cent, mainly due to a stable trend in several products. Also, the average inflation rate between January-May period of 2018 edged up by 0.60 per cent, over the same period of last year. The cost of education in the first five months of 2018 soared by 4.90 per cent, transport by 2.24 per cent, and furnishing and household maintenance by 1.56 per cent. — ONA