The Sultanate of Oman saw a 0.2 percent increase in inflation to 0.17 percent in March 2024 compared to March 2023, according to the latest consumer price index numbers from the National Center for Statistics and Information (NCSI).
The report highlights notable price fluctuations across various groups of consumer goods and services. Prices in the food and non-alcoholic beverages group saw a significant rise of 3.4 percent, while miscellaneous personal goods and services increased by 2.9 percent. Entertainment saw a 0.4 percent increase in prices, while tobacco experienced a 2.4 percent rise. In addition, clothing and footwear increased by 0.1 percent in March.
Conversely, prices in the transportation group experienced a decline of 4.6 percent. Hotel and restaurant prices saw a 0.1 percent decline while communications saw a 0.3 percent drop. Moreover, prices of education and household equipment and maintenance saw a 0.4 percent and 0.3 percent decline, respectively.
Read: Egypt to ensure foreign currency availability through maintaining flexible exchange rate
The inflation rate varied across different governorates within Oman. The North Al Sharqiyah Governorate reported the highest inflation rate increase of 1.3 percent in March. Following closely came Al Wusta Governorate and the North Al Batinah Governorate with a 1.1 percent and 1 percent annual increase, respectively. South Al Sharqiyah Governorate saw a 0.8 percent increase in inflation while South Al Batinah, Musandam, and Al Dhahirah Governorates saw a 0.6 percent increase. Both Buraimi and Dhofar Governorates saw a 0.4 percent increase in inflation during March.
Notably, the Muscat Governorate saw a 0.4 percent decline in inflation while Al Dakhiliyah Governorate saw a 0.3 percent decline.
For more news on the economy, click here.
