Oman’s inflation eases by 0.55% y/y in November

Mubasher: Oman’s consumer price index (CPI) fell by 0.55% in November compared to the same period of last year. It slipped by 0.02% month-on-month, according to the state-run statistics body.

However, year-on-year average inflation during the first eleven months marginally increased by 0.08%, according to latest data released by the National Centre for Statistics and Information (NCSI).

The food and non-alcoholic beverages group which carries a weightage of nearly 24% in the CPI basket witnessed a price fall of 1.48% in November this year compared to last year. Bread and cereals prices went down 1.34%, fish and seafood by 15.21%, meat 0.41%, milk, cheese and eggs by 0.50%, oils and fats by 0.47%, and non-alcoholic beverages by 0.44% in November compared to the same month in 2014.

Sub-segments that witnessed price rise in November as against last year include fruits (0.42%), vegetables (2.53%), sugar-confectionary (0.85%), and other food products (0.45%).

Tobacco products became costlier by 2.62%, while clothing and footwear prices went down by 0.13%. Housing, water, electricity and fuels set logged a price rise of 0.57%, while furnishing, household appliances and maintenance costs declined by 0.17% in November compared to same month last year. Health set also witnessed higher inflation at 2.98%, as also education at 3.03%. Restaurants and hotels set logged a price rise of 0.03%.