PPI inflation falls 22.9 per cent in Q4 2020
The Sultanate’s producer price index (PPI) based inflation fell by 22.9 per cent in the fourth quarter of 2020, compared to the same period of the previous year due to a fall in oil and gas prices, according to the latest statistics released by the National Centre for Statistics and Information (NCSI).
The price index of oil and gas products dropped by 28.3 per cent whereas those of nonoil products rose by 4.3 per cent in the 4th quarter of 2020, compared to the same period of 2019.
Within the oil and gas group, the price index of crude oil and natural gas declined by 29.9 per cent, refined oil products fell by 18.7 per cent in the fourth quarter of 2020, compared to the same period of 2019. In the nonoil group, the price index of the manufacturing group rose by 4.3 per cent.
Among different sub-groups in the manufacturing sector, the price index of most of the product groups fell at varying degrees. The PPI of metal products, machinery and equipment declined by 0.9 per cent whereas those of transportable goods rose by 10.2 per cent and food, beverages and textiles products group rose by 4.6 per cent as well.
In the food, beverages and textiles products group, the price index of fish, fruits, vegetables and oils increased by 9.0 per cent,
Within the oil and gas group, the price index of crude oil and natural gas declined by 29.9 per cent, refined oil products fell by 18.7 per cent in the fourth quarter of 2020, compared to the same period of 2019. In the non-oil group, the price index of the manufacturing group rose by 4.3 per cent.
beverages by 13.4 per cent and clothing, textiles and footwear by 4.4 per cent, the NCSI report added.
The price index of paints and pharmaceutical products fell by 2.5 per cent, wood and paper by 0.6 per cent, furniture products, jewellery and unmelted metal waste by 0.1 per cent.
Meanwhile, the prices of chemical products rose by 28.5 per cent, glass, cement and marble products by 0.7 per cent. The price index of metal products, machinery and equipment in the fourth quarter of 2020 declined by 0.9 per cent, compared to the same period of 2019.
The ‘0 per cent interest up to three years on select models’ offer announced by Nissan Oman, from the house of Suhail Bahwan Automobiles (SBA), has garnered great response from customers.
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The offer is applicable on select stock of Kicks, X-trail, Altima and Pathfinder.