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.
US President Donald Trump on October 16 warned that the termination of the Iran nuclear deal is still a clear possibility even though he ... more
US Defence Secretary Jim Mattis on October 3 told the Senate Armed Services Committee that it currently appears to be in the strategic interest of Washington to remain in the Iran nuclear deal. ... more
Iran’s foreign minister has said the country is willing to formally accept a tougher nuclear inspection regime in six years. However, Mohammad Javad Zarif continued to rule out any renegotiation of ... more