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GBO_Oman Inflation

Oman’s inflation rate reaches 0.69%, driven by rising prices

The North Al Sharqiyah and South Al Sharqiyah Governorates had the lowest inflation rates at 0.2%

According to data from the National Centre for Statistics and Information’s (NCSI) monthly consumer pricing survey, the annual inflation rate in the Sultanate of Oman was 0.69% at the end of June 2023.

The majority of the major groupings that make up the consumer price index increased, which increased the inflation rate.

The cost of food and non-alcoholic beverages increased by 2.18% as a result of price increases for the majority of the group’s items, including milk, cheese, and eggs, which rose by 9.78%, fish and seafood, which increased by 5.19%, oils and fats, which increased by 4.81%, fruits, which rose by 4.3%, other foodstuffs, which increased by 3.91%, bread and cereals, which increased by 2.34%, and non-alcoholic beverages, which increased by 0.

Prices for both meat and vegetables dropped by 0.12% and 5.65%, respectively.

Restaurants and hotels saw a 3.68% increase in price, furniture, fixtures, and household equipment saw a 2.93% increase, miscellaneous goods and services saw a 2.33% increase, tobacco saw a 2.11% increase, culture and entertainment saw a 1.73% increase, health saw a 1.28% increase, clothes and shoes saw a 0.56% increase, education saw a 0.05% increase, and housing, water, electricity, gas, and other types of fuel saw a 0.02%.

Communications prices fell by 0.22%, while transportation prices fell by 1.74%.

The food and non-alcoholic beverage groups saw a 0.97% price increase, led by tobacco at 0.35%, followed by culture and entertainment at 0.28%, miscellaneous goods and services at 0.23%, and furniture, household equipment, and household maintenance at 0.03%, while the price of transport groups decreased by 0.1%, communications fell by 0.05%, and real estate fell by 0.03%.

The North Al Sharqiyah and South Al Sharqiyah Governorates had the lowest inflation rates at 0.2%, whereas Al Buraimi Governorate had the highest inflation rate of all the governorates at 1.3%.

Muscat Governorate saw an increase in inflation of 1%, compared to Al Dakhiliyah Governorate’s 7%, Dhofar Governorate’s 7%, Al Dhahirah Governorate’s 6%, North Governorate’s 6%, and Al Batinah Governorate’s 4%.

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