Oman’s CPI inflation was 2.0% y/y in January-May, down from 2.1% at end-April, the statistics office said. May’s CPI reached 1.1% y/y, according to our calculations.
Food charges (30.4% of the index) rose 2.2% over the period, underpinned mainly by volatile fresh vegetable prices which climbed 11.1% y/y. Fruit costs rose 3.6% and those of meat and poultry increased 1.9%. Education costs remained high at 19.1% y/y over the period.
Housing and food and transports charges have remained relatively subdued in January-May, helping keep Oman’s CPI inflation among the GCC’s lowest.
Transport prices (22.2% of CPI) rose 2.0% y/y and housing costs (21.4% of the basket) increased 0.9%. Rent charges rose 1.1% over the period.
Oman’s CPI inflation will average 3.1% in 2013, the IMF said in its latest Article IV report.
Related Articles
Egypt and Russia finalise key agreements for Dabaa Nuclear Power Plant
Egypt has signed an agreement with Russia’s Rosatom to secure the nuclear fuel supply for Unit 1 of the Dabaa Nuclear Power Plant, Al Ahram reported on November 19. Officials said the agreement ... more
Egypt launches international bid round for gas exploration in Red Sea
Egypt’s Ministry of Petroleum and Mineral Resources has launched a new international bid round for oil and gas exploration in four offshore blocks in the Red Sea, according to Al Youm Al Sabea, ... more
BP expands gas output in Egypt’s West Nile Delta with new well start-up
British energy major BP (LSE, NYSE:BP) has started up the RW5 gas well in Egypt’s West Nile Delta (WND) project, adding around 80mn cubic feet per day of additional supply, Al Mal reported on ... more
Most Read
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago