Inflation in Oman declines by one fifth
Statistics released by the Omani National Centre for Statistics and Information (NCSI) showed that the index of consumer price indices in the Sultanate recorded a decline in the inflation rate during the month of August 2013 to 0.5 per cent compared to 2.5 per cent during the same month in 2012.
Oman News Agency reports that the index also recorded a decrease of 0.1 per cent compared to July of 2013. Oman’s inflation rate in August 2013 is the lowest compared to other GCC countries.
At the level of the constituent groups of the index, the data showed that the prices of educational services rose by 18.5 per cent with a contribution of 0.65 percentage point, followed by foodstuff group, which contributed nearly 0.29 percentage point, increasing by 0.9 per cent.
The house leasing, electricity, water and fuel group contributed to 0.24 percentage point, with a growth rate reaching 1.1 per cent, clothing, textiles and footwear group contributed 0.12 percentage point as their prices rose by 2.4 per cent. The prices of medical services group, furniture and appliances group rose by 1.9 per cent and 0.5 per cent respectively, with a small contribution of 0.02 percentage point each.
In contrast, the prices of personal goods and other services fell by 8 per cent, and the group of culture and recreational services and the group of transport and communications decreased by 0.6 per cent and 0.4 per cent respectively during the same period.
At the governorate level, the data indicated that the inflation rate in August 2013 showed that prices fluctuated, rising in some governorates, falling in others and remained stable in other governorates.
The annual consumer price index rose in the Governorate of Dhofar and the Governorate of North Al Batinah by 1.2 per cent each and by 0.6 per cent in the Governorate of Muscat. In contrast, the index went down by 0.7 per cent in Governorate of A'Dhahirah and by 0.5 per cent in the South and North A'Sharqiyah Governorates while it remained stable in the A'Dakhliyah Governorate.
- Gulfnet collaborates on global cybersecurity platform
- Middle East poised to become an industry leader in 3D printing
- UAE Space Agency, Lockheed Martin ‘blast off’ with professional training program
- Show me the money: Lebanon addresses bank transfer delay problems
- Kuwait to receive French helicopters in $1.1B deal