Oman's annual inflation rate reaches 0.3%

Muscat: The annual inflation rate in the Sultanate of Oman reached 0.3 per cent by the end of October 2023, according to data issued by the National Centre for Statistics and Information (NCSI).

The inflation rate was driven by the increase in most main groups comprising the Consumer Price Index (CPI), including the miscellaneous goods and services (2.6 per cent), tobacco (2.4 per cent), food and non-alcoholic beverages (1.7 per cent), furniture, household equipment and routine household maintenance (1.7 per cent), culture and entertainment (1.1 per cent) and health (0.6 per cent).

Meanwhile, the prices of several other groups went down, such as education (2.3 per cent), transport (1.4 per cent) and restaurants, hotels and communications (0.2 per cent).

Prices remained stable for the following groups: clothes and footwear, housing, water, electricity, gas and other types of fuel.

Further, the inflation rate decreased by 0.2 per cent compared to September 2023 due to the drop in the prices of the following main groups: education (2.3 per cent), food and non-alcoholic beverages (0.6 per cent) and transport (0.1 per cent).

As far as governorates are concerned, the highest inflation rate in governorates was registered by Al Dhahirah (0.6 per cent), while the governorates of Dhofar and Muscat registered a rise in inflation rate by 0.4 per cent.
An increase was also registered in the following governorates: North Al Sharqiyah, South Al Sharqiyah, Al Dakhiliyah and North Al Batinah by 0.2 per cent.