Oman’s producer price index falls by 26 per cent

Business Sunday 03/January/2016 18:38 PM
By: Times News Service
Oman’s producer price index falls by 26 per cent

Muscat: Oman's producer price index (PPI)-based inflation was down by 25.8 per cent in the third quarter of 2015 compared to the same quarter last year, according to data released by National Centre for Statistics and Information (NCSI). However, third quarter producer price index posted a 0.7 per cent rise compared to the second quarter.
Prices of oil and gas products declined by 29.4 per cent year-on-year in the third quarter, while non-oil products’ prices fell by 4.8 per cent.
Non-oil manufacturing and transportable goods registered a price decline of 7.1 per cent and 6 per cent respectively. A 4.9 per cent fall was recorded in the pharmaceutical products as well.
In the third quarter, food, beverages and textiles group posted a fall of 5.9 per cent compared to the same period of 2014. Under this, fish, fruits, vegetables and oils sub-segment saw prices tumble by 7.1 per cent, and dairy products by a significant 20 per cent. Bakery and other food products, as well as beverages registered a price fall of 0.9 per cent and 0.1 per cent, respectively, while textiles and footwear prices went down by 0.1 per cent.
However, prices of the mining, electricity and water subset registered a rise of 2.9 per cent. Among this set, electricity and water prices rose by 2.7 per cent, along with a 5.1 per cent increase in minerals and stones.
Metal products, machinery and equipment segment witnessed a price fall of 9.8 per cent in the third quarter compared to the same period in 2014.
Compared to the second quarter of the current year, oil and gas products witnessed a price rise of 1.3 per cent, while non-oil products fell by 1.8 per cent in the third quarter. Non-oil manufacturing prices declined by 2.6 per cent, while food, beverages and textiles subset logged a price fall of 1.8 per cent.
Transportable goods witnessed prices going down by 2.5 per cent, whereas metal products, machinery and equipment sub-segment registered a fall of 3.4 per cent in the third quarter compared with the previous quarter.