Oman’s inflation rises marginally

MUSCAT: The inflation rate in the Sultanate increased by 1.7 per cent in December 2017, compared with the same period in 2016, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The latest data also suggests that December inflation increased 0.07 per cent compared with November 2017.

The NCSI said that the rise in the price index in December 2017, in comparison with the same period in 2016, is attributed to the rise in prices of major groups including housing, water, electricity, gas and other fuels by 1.52 per cent, food and non-alcoholic beverages by 1.84 per cent, transport by 2.77 per cent and furnishings, household equipment and house maintenance by 3.61 per cent.

The sub-group of education increased by 4.9 per cent, restaurants and hotels by 0.06 per cent, miscellaneous goods and services by 1.95 per cent, culture and entertainment by 0.24 per cent, health services by 0.41 per cent and tobacco by 1.81 per cent.

Price of the clothing and footwear declined by 0.14 per cent and communications by 0.18 per cent during December 2017, compared to the same period in the previous year. At the level governorates, North Al Batinah had an increase in the inflation by 2.71 per cent, followed by A’Dakhiliyah by 1.76 per cent, North and South of A’Sharqiyah by 1.5 per cent, Muscat by 1.4 per cent, Dhahirah by 1.32 per cent, Dhofar by 1.24 per cent and Al Burami by 0.67 per cent.

Compared to the previous month, the general consumer price index rose by 0.07 per cent, with transport cost going up by 0.72 per cent, clothing and footwear by 0.02 per cent and miscellaneous goods and services by 0.02 per cent.

The groups of housing, water, electricity, gas and other fuels, health, communication, and education remained stable.