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Oman’s inflation drops 1.57 per cent in January

Business Monday 15/February/2021 11:41 AM
By: Times News Service
Oman’s inflation drops 1.57 per cent in January

Muscat: The inflation rate in the Sultanate fell by 1.57 per cent in January 2021 compared to the same month of 2020, according to the latest official data released by the National Centre for Statistics & Information (NCSI) about Consumer Price Index (CPI).

According to the report, the inflation rate in January 2021 rise by 0.01 per cent compared to December 2020. The prices of recreation and culture group increased by 0.33 per cent, miscellaneous goods and services group by 0.19 per cent, the group of furnishings, household equipment and routing household maintenance group by 0.12 per cent, the housing, water, electricity, gas and other fuels group by 0.05 per cent, the food and non-alcoholic beverages group by 0.02 per cent.

In contrast, the transport group fell by 0.10 per cent, communication group by 0.03 per cent, restaurants and hotels by 0.01 per cent, in January 2021 compared to December 2020, and the prices of tobacco, health, and education group were stable.

The decrease in the price index in January 2021 compared to the same month of 2020 is due to a decrease in the prices of the main groups such as the transportation group by 6.87 per cent, the food and non-alcoholic beverages group by 0.75 per cent, the clothing and footwear group by 0.72 per cent, the restaurants and hotels group by 0.36 per cent, the group of furnishings, household equipment and routine household maintenance by 0.11 per cent, as well as the communications group by 0.04 per cent.

On the other hand, the prices of the group of miscellaneous goods and services increased by 1.27 per cent, the recreation and culture group by 0.67 per cent, the education group by 0.08 per cent, and the housing, water, electricity, gas and other fuels group by 0.05 per cent.

At the governorate level, Al Dakhiliyah Governorate witnessed the highest rate of decline in inflation by 2.10 per cent, followed by the North Al Batinah governorates by 1.76 per cent, then Al Buraimi Governorate by 1.72 per cent, then the North and South Al Sharqiyah governorates by 1.57 per cent and the Al Dhahirah Governorate by 1.52 per cent, and the rate of decline was in Dhofar Governorate 1.45 per cent and Muscat Governorate by 1.36 per cent.