Producer price index up by 7.3 pc

MUSCAT: The producer price index (PPI) in the Sultanate moved up by 7.3 per cent in the fourth quarter of 2017 compared with the same period in 2016. This has been attributed to an increase in the indices of oil and gas products by 8.5 per cent and non-oil products by 2.6 per cent, according to the data released by the National Centre for Statistics and Information (NCSI). The rise in oil and gas products prices was due to the rise in refined oil products by 25.6 per cent, while the prices of crude oil and natural gas products grew by 5.6 per cent.
Among non-oil products, the price of manufactured items rose 4.1 per cent compared with the decline in the prices of mining, electricity and water by 1.8 per cent.
In the manufacturing sector, prices of most of the sub-groups increased with varying percentages.
Prices of metal products, machinery and equipment rose 9.5 per cent, and other transportable products rose by 3.8 per cent. The price of food, beverages and textiles products decreased 1.2 per cent. — ONA