Oman’s Inflation Rate Increases by 0.8% in October 2024
Oman’s inflation rate increased by 0.8% at the end of October 2024 compared to the same month in 2023. The data reflects price changes in various goods and services, particularly in food and non-alcoholic beverages. Below are the details:
Price Changes in Major Goods and Services Groups
The table below shows the changes in prices of key goods and services:
| Goods and Services Group | Percentage Change |
|---|---|
| All Goods and Services | Increase 4.8% |
| Food and Non-Alcoholic Beverages | Increase 3.5% |
| Health Services | Increase 3.2% |
| Culture and Entertainment | Increase 0.8% |
| Restaurants and Hotels | Increase 0.6% |
| Clothing and Footwear | Increase 0.5% |
| Furniture and Household Equipment | Increase 0.4% |
| Education | Increase 0.1% |
| Transportation | Decrease 2.6% |
| Housing, Water, Electricity, Gas and Other Fuels | No Change |
| Communications and Tobacco | No Change |
Price Changes in Food Items
Food items experienced significant price increases:
| Food Items | Percentage Change |
|---|---|
| Vegetables | Increase 8.9% |
| Fruits | Increase 8.0% |
| Milk, Cheese, and Eggs | Increase 5.4% |
| Oils and Fats | Increase 3.8% |
| Meat | Increase 2.8% |
| Sugar, Jam, Honey, and Sweets | Increase 2.4% |
| Bread and Cereals | Increase 0.8% |
| Non-Alcoholic Beverages | Increase 0.7% |
| Fish and Seafood | Decrease 1.2% |
Inflation Rates by Governorate
Some regions experienced higher inflation rates:
| Governorate | Inflation Rate |
|---|---|
| South Al Sharqiyah | Increase 1.9% |
| Al Wusta and Musandam | Increase 1.6% |
| North Al Sharqiyah | Increase 1.3% |
| Ad Dakhiliyah | Increase 1.1% |
| North Al Batinah | Increase 0.8% |
| Al Buraimi and Ad Dhahirah | Increase 0.7% |
| Muscat | Increase 0.6% |
| South Al Batinah | Increase 0.4% |
Conclusion
The data shows that the increase in food and health services prices were the primary drivers of inflation. Meanwhile, the decrease in transportation prices helped to slightly reduce the overall inflation rate.
Source:
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