Fall in Oman's Quarrying Group Prices Due to Weak Oil

The producer price index in the Sultanate of Oman recorded a decrease of 1.7 per cent in Q1 2024, compared to the same period in 2023, according to data issued by the National Centre for Statistics and Information (NCSI). The prices of the mining and quarrying group decreased by 1.4 per cent, as the prices of crude oil and natural gas products decreased by 1.5 per cent, stone and sand products by 1.4 per cent, while the prices of metal ore products increased by 16.4 per cent.

The prices of the manufacturing industries group also decreased by 2.6 per cent, as most of the sub-group prices decreased by varying percentages, most notably the prices of the transportable goods group by 4.6 per cent and the metal products, machinery and equipment group by 0.2 per cent, while food products, beverages, and textiles increased by 0.1 per cent. The prices of the water production group increased by 5.6 per cent and the electric energy group by 0.5 per cent.