Economy
Inflation In Oman Rises To 3.35% In October 2021
The inflation rate in the Sultanate has risen by 3.35 per cent in the month of October when compared with the same period in 2020.
The inflation rate also went up by 0.75 per cent compared to September 2021, according to the latest data from the National Centre for Statistics and Information (NCSI).
The rise of prices in October 2021 compared to the same month in 2020 is attributed to the surge of prices in main groups, such as the transportation group by 9.58 per cent, education by 5.10 per cent, food and non-alcoholic beverages by 3.42 per cent, miscellaneous goods and services by 3.24 per cent, tobacco by 2.98 per cent, recreation and culture by 2.64 per cent, furniture, household equipment and routine household maintenance by 1.37 per cent, housing, water, electricity, gas and other fuels group by 1.01 per cent, restaurants and hotels by 0.70 per cent, clothing and footwear by 0.37 per cent and health by 0.06 per cent.
On the other hand, the prices of communication went down by 0.07 per cent.
According to the NCSI, prices soared during October 2021 compared to the same period in 2020 in the fish and seafood group by 14.82 per cent, vegetables by 7.62 per cent, fruits by 2.87 per cent, oils and fats by 2.39 per cent, bread and cereals by 2.04 per cent, non-alcoholic beverages by 1.70 per cent, sugar, jam, honey and sweets by 1.68 per cent, meat by 1.50 per cent, other foodstuff by 1.45 per cent, milk, cheese and eggs by 0.42 per cent.
The Consumer Price Index (CPI) increased by 0.75 per cent compared to September 2021. A surge was recorded in the prices of education by 5.10 per cent, food and non-alcoholic beverages by 1.43 per cent, transportation by 0.83 per cent, recreation and culture by 0.58 per cent, housing, water, electricity, gas and other fuels group by 0.56 per cent, miscellaneous goods and services by 0.20 per cent, furniture, household equipment and routine household maintenance by 0.07 per cent and clothing and footwear by 0.06 per cent.
Meanwhile, the prices of restaurants and hotels fell by 0.21 per cent. Meanwhile, the prices of tobacco, health, and communication remained unchanged.
At the level of governorates, the CPI recorded a rise in October 2021 compared to the same month in 2020. The Governorate of North Al Batinah recorded an increase in inflation by 4.03 per cent, the Governorate of A’Dakhiliyah by 3.83 per cent, the Governorate of Dhofar by 3.59 per cent, the Governorates of North and South A’Sharqiyah by 3.58 per cent, the Governorate of A’Dhahirah by 3.33 per cent, the Governorate of Al Buraimi by 3.14 per cent and the Governorate of Muscat by 2.77 per cent.
-
Leaders Speak2 months agoDhofar International Development and Investment Company: Driving Sustainable Growth and Strategic Synergies in Oman’s Investment Landscape
-
Economy1 month agoMaal Card: What Oman’s New National Payment Card Means for Everyday Users
-
Events2 months agoOER Corporate Excellence Awards 2025 Honours Entities and Innovations in Oman
-
Arts and Culture2 months agoOminvest and Bait Al Zubair Launch “Future Frames” to Empower Youth through Art and AI
-
News1 month agoSheikh Suhail Bahwan, Chairman of Suhail Bahwan Group, Passes Away
-
Economy1 month agoOman Unveils Official Omani Rial Symbol in Landmark Move to Boost Global Currency Presence
-
News4 weeks agoOIG Appoints New CEO to Lead Its Next Chapter of Excellence
-
News4 weeks agoReport: How India & The Middle East Are Exploiting Immense Economic Synergies
