Friday, October 27, 2023

“Oman’s Inflation Rate Drops to 1.1% in April, Lowest Since March 2021”


Oman’s inflation levels hit a 10-month low of 1.1% in April, due to a deceleration in food prices, according to the National Center of Statistics and Information. The 19-month low of food inflation was mainly attributed to lower vegetable prices. Prices also grew at a lower rate for housing, utilities, furnishings, household equipment and routine maintenance, as well as recreation and culture. However, prices for restaurants and hotels rose to 3.7% in April, down from 3.8% in the previous month. The slowdown aligns with the trend across the Middle East and North Africa region, where economies are expected to slow this year due to persistently high inflation and rising interest rates.

Latest stories