Transport cost triggers Oman’s inflation to 2.38 per cent

Oman’s consumer inflation in February rose by 2.38 per cent year-on-year, mainly due to a 9.33 per cent price hike in the transport sub-segment and a 2.05 per cent rise in the housing, water, electricity, gas and other fuel sub-sector.

The foods and non-alcoholic beverages sub-segment logged a price decline of 0.10 per cent, while clothing and footwear prices fell 0.37 per cent, according to a recent bulletin issued by the National Centre for Statistics & Information (NCSI). 

The health and communication sub-segment too recorded a price fall of 0.13 per cent and 3.02 per cent, respectively in February, as against the same month of 2016.

The prices of other CPI product baskets registered a price increase. Tobacco products saw prices rise of 23.23 per cent, while furnishings, household equipment and routine household maintenance set prices went up by 1.86 per cent.

Recreation and culture turned costlier by 0.50 per cent. Education as well as restaurants and hotels sets experienced inflationary pressures of 2.85 per cent and 0.30 per cent, respectively. Prices of miscellaneous goods and services went up by 1.67 per cent during the month.

Among the foods, bread and cereals prices fell 1.58 per cent, while meat, and fish and seafood prices rose by 0.22 per cent and 7.09 per cent, respectively. Milk, cheese and eggs, and oils and fats sets logged a price fall of 2.44 per cent and 0.28 per cent, respectively. Fruits and vegetables too reported a fall in price to the extent of 2.88 per cent and 0.31 per cent, respectively.

Sugar, jam, honey and confectionary sub-segment prices moved up by 0.33 per cent. Prices of non-alcoholic beverages shot up by 0.53 per cent in February as against the same period of last year.

Source :Times Of Oman