Producer prices in Oman register a decline of close to 18% during second quarter

Muscat: The Sultanate’s producer prices decreased in the second quarter 2020 by 17.4 per cent compared to the same period in 2019.
Prices of oil and gas products decreased by 20.3 per cent while the non-oil products registered a decrease of 3.1 per cent, according to the latest data released by the National Centre for Statistics and Information.
The decrease in the prices of non-oil products is ascribed to the decrease in the prices of manufacturing industries group by 3.5 per cent and the prices of mining, electricity and water group by 1.9 per cent.
In the manufacturing industries group, the majority of prices in the sub-groups have deceased by different percentages.
For instance the prices of machinery and equipment products have decreased by 7.8 per cent and the prices of “other movable goods and products” have decreased by 4.9 per cent while the prices of “food, beverages and textiles” increased by 5.7 per cent.
In the group of “food, beverages and textile products”, the prices of “fish, fruits, vegetables and oil products” have increased by 5.6 per cent and the prices of “ready -made garments, textile and shoes” increased by 0.7 per cent while the prices of dairy products deceased by 0.8 per cent.
Prices of chemical products have decreased by 8. 4 per cent and the prices of paints, pharmaceutical products decreased by 7.3 per cent. Prices of rubber and plastic products decreased by 6.6 per cent while wood and paper products decreased by 2.3 per cent.
The prices of “glass, cement and marble products” and the prices of “furniture and jewellery industries products” decreased by 0.4 per cent each. The prices of iron ore and aluminium products decreased by 12.6 per cent.