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Inflation rates in the Sultanate grow by 1.21% through June 2014

: Sunday, August 03 - 2014 @ 14:34

The inflation rates in the Sultanate of Oman through June 2014 increased by 1.21% compared to June 2013 while showing a slight decrease of 0.07% when compared to May 2014, according to the latest Consumer Price Index (CPI) report by the National Centre for Statistics and Information (NCSI).

The report said the increase in prices by the end of June 2014 over a 12-month period is caused by a 2.20% increase in the prices of foods and beverages (which compromise 23.90% of the overall expenditure), while the price for housing, water, electricity, gas and other fuels went up by 1.26%. Additionally, the cost of education over the same period showed an increase of 6.24%. Price increases were also observed in other groups including increases of 6.01% for the health group, 0.13% for communication, and 7.36% for furnishings, household equipment and routine household maintenance. The restaurants and hotels group also recorded an increase in prices of 1.16%, while tobacco prices went up by 0.30%, clothes and footwear prices grew by 0.23%, and prices for miscellaneous goods and services went up by 0.20% through June 2014 compared to June 2013.

On the other hand, the transport group and the recreation and culture group showed a decrease in prices of 0.95% and 0.83% respectively over the same period.

The consumer price index (CPI) issued recently by NCSI also revealed an overall decrease of 0.07% in inflation by the end of June 2014 when compared to May 2014. Housing, water, electricity, gas and other fuels recorded a decrease in prices of 0.39%, transport prices went down by 0.32%, while there was a decrease in prices of 0.07% for restaurants and hotels, 0.06% for tobacco, 0.05% for miscellaneous goods and services.

However, June 2014 prices showed a slight increase for some products and services compared to May 2014. The price for foods and beverages increased by 0.42%, while the prices for clothes and footwear as well as recreation and culture increased by 0.01%. The prices of furnishings, household equipment and routine household maintenance also went up by 0.02%, while the prices for the health, communication and education groups remained stable.

According to the NCSI report, the average inflation over a 6-month period from January through June 2014 saw an increase of 1.11% in comparison to the average of the same period last year.

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Sunday, August 3- 2014 @ 14:34 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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