Close this search box.

Producer Price Index Declines 7.9% in 4Q 2023

Producer Price Index Declines 7.9% in 4Q 2023

Muscat: The Producer Price Index (PPI) in the Sultanate of Oman recorded a drop by 7.9% during the 4th quarter of 2023, compared to the corresponding period in 2022 with 2018 being the base year.

According to the data released by the National Centre for Statistics and Information (NCSI), a decline was registered in the groups of mining and utilizing quarries (7.5%) which is attributed to the drop in products of crude oil and natural gas by 7.7%.

Meanwhile, a rise was recorded in products of metal ores (17.2%) and rock and sand products (0.5%).

A decrease was recorded in the groups of converting industries (9.1%) as prices in this groups went down such as other transportable products (5.9%) and metal products, machinery and equipment (17.3%), while a rise was recorded in foodstuff, drinks and textiles (0.1%).

PPI went down for the electricity group by 4.8% and increased by 1.7% for the water group

Source: Oman News Agency