Inflation Rises by 1.11 Percent in November 2018

Muscat, The inflation rate in the Sultanate, calculated in terms of consumer price index (CPI), increased by 1.11% in November 2018 compared to the same month in 2017, according to the latest data released by the National Centre for Statistics and information (NCSI) on CPI. It also stated that the inflation rate fell by 0.06% compared to October 2018.

The increase in inflation was driven by a rise in cost of major segments, such as housing, water, electricity, gas, and other fuels by 0.57%, transport by 5.58%, restaurants and hotels by 0.34% miscellaneous goods and services by 1.32%, education by 2.02%, and clothing and footwear by 0.04%.

However, the prices of food and non-alcoholic beverages dropped by 0.83% household furniture, equipment, and household maintenance by 0.77%; health by 3.53%, culture and entertainment by 0.02%; and tobacco by 0.11% compared to the same month of the previous year.

Among foods and non-alcoholic beverages group, a marked fall of 3.70% was witnessed in vegetables while price of fruit declined by 3.77%.

The price of fish and seafood products also fell by 4.15%. The average inflation rate between January and November 2018 edged up by 0.89% compared to the same period last year.

Source: Oman News Agency