Producer Price Index in Oman down by 13%

Muscat: Producer Price Index (PPI) in Oman declined by 13 per cent during the third quarter of 2023, compared to the corresponding period in 2022, according to statistics released by the National Centre for Statistics and Information (NCSI).

The NCSI data indicate that the prices of oil and gas products went down by 13.7 per cent. The prices of non-oil products also declined by 8.2 per cent.

The decline in oil and gas products’ price was due to a 16 per cent fall in the prices of crude oil and natural gas.
Meanwhile, the prices of refined petroleum products went up by 2.3 per cent.

The decline in prices of non-oil products was due to a 10.2 per cent decrease in the prices of the manufacturing industries group, where most of the prices of subgroups decreased by varying percentages.

The prices of metal products, machinery and equipment decreased by 11 per cent, while the prices of other transportable goods products went down by 10.9 per cent and the prices of food products, beverages and textiles by 7.9 per cent.