The inflation rate in Oman increased by 0.7% in December 2024 compared to the same month in 2023, according to the latest report from the National Centre for Statistics and Information (NCSI). The report highlights price changes in various goods and services categories based on the 2018 baseline year.
Changes in Prices of Goods and Services
The report revealed an increase in the prices of several categories of goods and services, including:
- Miscellaneous goods and personal services: 4.5% increase
- Health: 3.2% increase
- Food and non-alcoholic beverages: 1.7% increase
- Restaurants and hotels: 0.8% increase
- Culture and recreation: 0.6% increase
- Clothing and footwear: 0.5% increase
- Furniture and household equipment: 0.4% increase
- Education: 0.1% increase
Price Changes in Food Items
The food sector experienced notable variations:
- Vegetables: 7.6% increase
- Milk, cheese, and eggs: 3.8% increase
- Unclassified food products: 3.7% increase
- Sugar, jam, honey, and confectionery: 2.8% increase
- Meat: 2.6% increase
- Fruits: 2.2% increase
- Oils and fats: 1.6% increase
- Non-alcoholic beverages: 0.5% decrease
- Fish and seafood: 6.3% decrease
Inflation by Governorate
Inflation rates varied across Oman’s governorates as follows:
- Musandam: 1.6% increase (highest rise)
- South Sharqiyah: 1.5% increase
- Al Wusta: 1.4% increase
- Al Dhahirah: 0.9% increase
- Buraimi, Dakhiliyah, and Dhofar: 0.8% increase
- North Sharqiyah: 0.7% increase
- Muscat: 0.6% increase
- North Batinah: 0.5% increase
- South Batinah: 0.1% decrease (only governorate with a decrease)
Conclusion
The report shows a mixed trend in price changes, with increases in some categories and decreases in others. Overall, the 0.7% inflation rate rise in December 2024 reflects the economic dynamics affecting the cost of living for citizens and residents in Oman.
The Musandam Governorate recorded the highest inflation increase at 1.6%, while South Batinah was the only governorate to experience a 0.1% decrease. This report underscores the importance of continuous economic monitoring to ensure financial stability and economic well-being across Oman.
Source:
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