Oman’s inflation declines by 0.4% in May
Times News Service MUSCAT: Oman’s year-on-year inflation rate witnessed a decline of 0.4 per cent in May. On the other hand, compared to April, inflation rate decreased by 0.04 per cent, according to the latest data released by the National Centre for Information and Statistics (NCSI).
The May inflation was mainly driven down by the decreasing price of the foodstuffs and non-alcoholic beverages set, which fell by 1.45 per cent, along with the clothing and footwear set which logged a 1.62 per cent decline.
Transport
The transport sub-sector too witnessed a 0.55 per cent fall, while the telecommunications prices went down by 0.17 per cent. Goods and miscellaneous services set logged a 0.09 per cent decrease.
Among the most significant sets that recorded an increase in its prices in May compared to the same month of 2014 is the accommodation, water, gas and other fuel types set that logged a 0.16 per cent rise. The furnishing, household appliances and maintenance set, and education increased by 0.08 per cent and 4.49 per cent respectively. Finally, the health set price recorded a 2.24 per cent increase; while the restaurants and hotels set recorded a 0.37 per cent increase.
At the governorate level, AlDhahirah governorate witnessed the highest inflation growth at 0.77 per cent, followed by Dhofar at 0.48 per cent. Inflation rate recorded in Sharqiyah North and South governorates, however, decreased 0.8 per cent. Al-Batinah North governorate witnessed a 0.85 per cent decrease; while the decline in Dakhiliyah governorate stood at 0.46 per cent. Al-Buraimi posted a 0.37 per cent decrease in inflation; while the fall was 0.29 per cent in Muscat governorate.
Compared to April prices, the general index of consumer prices in May decreased 0.04 per cent. The clothes and shoes set witnessed a fall in inflation of 0.38 per cent; while the transportation set decreased by 0.65 per cent. On the other hand, the foodstuffs and nonalcoholic beverages set increased by 0.46 per cent. The prices of accommodation, water, gas and other fuel types set, as well as health set remained unchanged.