Oman Inflation Rate Rises 0.49 Percent in Feb 2018

Muscat, The annual inflation rate in Oman for February 2018 increased to 0.49 per cent compared with the same month of the previous year according to the consumer price index data released by the National Centre for Statistics and Information (NCSI). The rate declined by 0.05% compared to January 2018.

The rise in February price index was due to increases in prices of major categories, such as housing, water, electricity, gas and other fuels by 0.09 per cent, transport by 2.23%, hotels and restaurants by 0.04%, miscellaneous commodities and services by 0.76%, furniture, domestic equipment, regular house maintenance by 1.87%, education group by 4.9% and tobacco by 0.63%.

On the other hand, during the month of February 2018, the prices of food stuffs and non-alcoholic drinks declined by 0.34%, shoes and garments by 1.04%, communication group by 0.15%, health by 2.45%, culture and entertainment by 0.66% compared to February 2017.

Governorate wise, the Governorate of North Al Batinah witnessed the highest increase in inflation at 1.02 per cent, followed by the Governorates of Dhofar with 0.62% North and South A’Sharqiyah at 0.46 per cent, Muscat at 0.34, A’Dakhiliyah at 0.25 and Al Buraimi at 0.06%.

Compared to the previous month, the consumer price index decreased by 0.05%. The prices of the foodstuff and non-alcoholic drinks decreased by 1.02, the garments and shoes group declined by 0.69%, the health group declined by 4.24%.

On the contrary, the transport group increased by 1.32%, the hotel and restaurants by 0.04%, the miscellaneous commodities and services by 0.09% and culture and entertainment by 0.01%.

The prices of housing, water, electricity, gas, other fuels, communications, education and tobacco group remained stable.

Source: Oman News Agency