Muscat, The Sultanate's producer price index (PPI)-based inflation fell by 12.3% in the fourth quarter of 2019 compared to the same period of the previous year due to a fall in oil and gas prices, according to the latest statistics released by the National Centre for Statistics and Information (NCSI).

The price index of oil and gas products fell by 13.8%, and those of non-oil products fell by 3.9% in the fourth quarter of 2019, over the same period of 2018.

Among oil and gas group, refined oil products fell by 10.8%, and the price index of crude oil and natural gas fell by 14.3% in the fourth quarter of 2019 compared to the same period of the previous year. In the non-oil group, the price index of the manufacturing group fell by 5.1%.

Among different sub-groups in the manufacturing sector, the price index of most of the product groups fell at varying degrees. The producer price index of food, beverages and textiles products group dropped by 3.7% whereas those of transportable goods fell by 5.1%.

In the food, beverages and textiles products group, the price index of beverages fell by 3.7%; clothing, textiles and footwear by 2.8%; and fish, fruits, vegetables and oils by 3% whereas those of dairy products and bakery products rose by 3.4% and 0.7%, respectively, added the NCSI report.

The price index of paints and pharmaceutical products rose by 3.1% whereas a decline was witnessed in the prices of wood and paper products by 0.5%, chemical products by 10.8%; glass, cement and marble products by 2.9%; and furniture products, jewelry and anti-melted metal waste by 0.2%, the NCSI bulletin showed.

The price index of metal products, machinery and equipment in the fourth quarter of 2019 fell by 6.2% compared to the same period of 2018. There was a drop in price index of distribution and delivery of electricity apparatus, recording tapes and CDs by 3.4%, raw metals and its finished products fell by 11.3% and those of fabricated steel and aluminum products by 1.9%, the report stated.

Source: Oman News Agency