Oman’s Inflation Rate Rises by 1.1% in August
According to the National Centre for Statistics and Information, the inflation rate in Oman increased by 1.1% in August 2024 compared to the same period in 2023, based on the 2018 base year.
Changes in the Prices of Goods and Services: The prices of various groups of goods and services changed as follows:
- Miscellaneous goods and services: 4.4% increase
- Food and non-alcoholic beverages: 3.3% increase
- Health: 2.4% increase
- Housing, water, electricity, gas, and other fuels: 1.7% increase
- Culture and recreation: 0.7% increase
- Restaurants and hotels: 0.4% increase
- Clothing and footwear: 0.3% increase
On the other hand:
- Transportation: 2.7% decrease
- Furniture, household equipment, and routine home maintenance: 0.6% decrease
- Education: 0.4% decrease
- Prices for tobacco and communication remained unchanged.
Details of the Food and Non-Alcoholic Beverages Group: In this group, the price changes were as follows:
- Vegetables: 11.5% increase
- Fruits: 7.4% increase
- Milk, cheese, and eggs: 5.4% increase
- Meat: 2.8% increase
- Sugar, jam, honey, and sweets: 2.3% increase
- Other food products: 1.9% increase
- Oils and fats: 1.2% increase
- Non-alcoholic beverages: 1.1% increase
- Bread and cereals: 1% increase
- Fish and seafood: 4.1% decrease
Inflation Rate in Different Governorates of Oman:
| Governorate | Inflation Rate (%) |
|---|---|
| Musandam | 2.3 Increase |
| South Al Sharqiyah | 2.2 Increase |
| Al Wusta | 2.0 Increase |
| North Al Sharqiyah | 2.0 Increase |
| North Al Batinah | 1.6 Increase |
| Al Buraimi | 1.6 Increase |
| Dhofar | 1.3 Increase |
| Al Dhahirah | 1.0 Increase |
| Al Dakhiliyah | 1.0 Increase |
| Muscat | 0.8 Increase |
| South Al Batinah | 0.7 Increase |
Musandam Governorate recorded the highest inflation rate with 2.3%, followed by South Al Sharqiyah with 2.2%, and Al Wusta and North Al Sharqiyah with 2.0%.
source: Oman’s Inflation Rate Rises by 1.1% in August – Times of Oman
