Oman’s CPI inflation holds at 1.8% y/y in Jan-July 2013

By bne IntelliNews September 9, 2013

Oman’s CPI inflation averaged 1.8% y/y in January-July, the same as at end-June, despite rising food prices, which were offset by cooling transport costs and subdued housing charges, the statistics office said.

Food beverages and tobacco prices (30.4% of the index) rose 2.2% y/y over the period, ticking up from 2.0% at end-June despite high fresh produce costs. In July alone, food prices increased 2.8% m/m on unfavourable seasonal factors and strong local demand during the fasting month of Ramadan. Cereals prices fell 0.5% y/y in January-July whereas those of meat and poultry increased 1.7%. Fruit costs rose 3.4% and those of fresh vegetables climbed 9.0%. Education costs climbed 18.9% y/y over the period.

Housing and food and transports charges have remained relatively subdued in January-July, helping keep Oman’s CPI inflation among the GCC’s lowest.

Transport prices (22.2% of CPI) rose 1.7% y/y, down from 1.9% at end-June. 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

Dubai’s ICD reportedly interested in Montenegro’s Tivat airport

Investment Corporation of Dubai (ICD), which acquired a controlling stake in Porto Montenegro last year, reportedly is interested in ... more

Lebanon becomes European Bank for Reconstruction and Development shareholder

Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Dismiss