Oman’s Inflation Dips in January 2021

Data released by the National Centre for Statistics and information (NCSI) about the Consumer Price Index (CPI) showed that the inflation rate in the Sultanate fell by 1.57% in January 2021, compared to the same month of 2020. According to the report, the inflation rate in the month of January 2021 rise by 0.01% compared to December 2020.

The prices of items in the Recreation and Culture group increased by 0.33%, Miscellaneous Goods and Services group by 0.19%, the Furnishings, Household Equipment and Routing Household Maintenance group by 0.12%, the Housing, Water, Electricity, Gas and Other fuels group by 0.05% and the Food and Non-Alcoholic beverages group by 0.02%.

In contrast, the Transport group fell by 0.10%, Communication group by 0.03%, Restaurants and Hotels by 0.01%, in January 2021 compared to December 2020, and the prices of Tobacco, Health, and Education group were stable.

The decrease in the price index in January 2021 compared to the same month of 2020 is due to a decrease in the prices of the main groups such as the Transportation group by 6.87%, the Food and Non-Alcoholic Beverages group by 0.75%, the Clothing & Footwear group by 0.72%, the Restaurants and Hotels group by 0.36%, the group of Furnishings, Household Equipment and Routing Household Maintenance by 0.11%, As well as the Communications group by 0.04%.

On the other hand, the prices of the group of Miscellaneous Goods and Services Increased by 1.27%, the Recreation and Culture group by 0.67%, the Education group by 0.08%, and the Housing, Water, Electricity, Gas and Other fuels group by 0.05%.

At the governorate level, Al Dakhiliyah Governorate witnessed the highest rate of decline in inflation by 2.10%, followed by North Al Batinah (1.76%), Al Buraimi Governorate (1.72%), North and South Ash Sharqiyah governorates (1.57%), Al Dhahirah Governorate (1.52%), Dhofar Governorate (1.45%) and Muscat Governorate (1.36%).