Sultanate’s inflation up by 1.13 per cent

MUSCAT: The Sultanate’s consumer inflation in December 2016 increased by 1.13 per cent compared with prices in the same month of 2015, according to the latest bulletin issued by the National Centre for Statistics and Information (NCSI).

A price escalation of 9.42 per cent in the transport set, along with a 0.58-per cent rise in prices of housing, water, electricity and fuels set contributed significantly to the inflation.

The other sets in the CPI basket of goods and services that logged a price rise included restaurants and hotels at 0.48 per cent, education at 2.85 per cent, and furnishings, household equipment and maintenance at 0.62 per cent.

The health segment too registered an upward price movement at 0.66 per cent in the month of December compared with last year.

Interestingly, the tobacco products witnessed a whopping 21.88 per cent inflation.

However, a nearly 3.0 per cent fall in prices in the foods and nonalcoholic beverages set reined in the inflationary pressure to an extent.

Also, easing of prices in the clothing and footwear at 0.42 per cent, along with a 3-per cent price drop in the communication set and a 0.45-per cent fall in recreation and culture set helped tame the inflationary pressure in December 2016. Other products and services witnessed a 0.20-per cent rise in prices.

In the foods segment, vegetable prices went down by 14.52 per cent, while prices of fruits dropped 5.37 per cent.

Further, the prices of bread and cereals fell 1.12 per cent, while fish and seafood declined by 3.29 per cent. Milk, cheese and eggs too were cheaper by 2.25 per cent. The oils and fats subset saw prices cool off by a marginal 0.15 per cent in the month.

In contrast, meat products witnessed an inflationary pressure of 0.21 per cent along with a 0.42-per cent price surge in the sugar, jam, honey and confectionary section.

Other food products logged a price fall of 0.32 per cent.

Non-alcoholic beverages prices shot up by 0.77 per cent in December as against prices in the same month of 2015.

Looking at the past year as a whole, the Sultanate’s average consumer inflation stood at 1.12 per cent compared with prices of products and services for the year 2015.

PACP had said it was developing the website in coordination with the Royal Oman Police (ROP) and the insurance companies. The Ministry of Commerce and Industry last year banned the import of private vehicles older than seven years, buses older than 10 years and equipment older than 15 years.

The ministry, however, said importing “classic cars” exceeding 30 years from the date of manufacture was allowed. The ministry also took another decision which said non-Omanis above 18 years can import only vehicle using their civil identification numbers.