Oman’s CPI inflation averages 2.0% y/y in Jan-May 2013

By bne IntelliNews July 17, 2013

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

UAE to buy major stakes in Kazakh special economic zones

The United Arab Emirates’ (UAE’s) global port operator Dubai Ports World on March 24 signed two framework agreements to acquire stakes in Kazakhstan’s two Special Economic ... more

Survival of Iran nuclear deal appears far less likely under US Secretary of State Mike Pompeo

The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more

Billion-dollar petrochemical facility to be built in Turkey by Algeria's Sonatrach

Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more