Oman’s May inflation rises 0.78%
Oman’s annual inflation, based on consumer price index, rose 0.78 per cent in May compared with the same period of the previous year, according to the statistics released by the National Centre for Statistics and Information (NCSI).
The increase in May inflation was mainly due to higher prices in segments like education, transportation, and furnishing and household equipment. Price index for education jumped 4.9 per cent in May on year-on-year basis, while transportation and household equipment categories recorded price increases of 2.7 per cent and 0.78 per cent, respectively.
However, food and non-alcoholic beverages category remained steady without any change in price, the NCSI data showed. A marked fall of 9.42 per cent was witnessed in prices of vegetables, but price of fruits rose 3.32 per cent at the same time. Prices of fish and seafood increased 1.8 per cent and non-alcoholic beverages and milk prices rose 1.48 per cent in May on year-on-year basis.
Annual inflation in May was 0.35 per cent higher compared to the previous month, mainly due to stable prices of several products.