Oman’s inflation rate rises by 0.2% in March: official data

Oman’s inflation rate increased by 0.2 percent in March compared to the same month in 2023, driven by a rise in prices of food and beverages, an official analysis showed.

Citing data from the National Center for Statistics and Information, the Oman News Agency reported that food and non-alcoholic beverage expenses increased by 3.4 percent year-on-year in March.

Similarly, prices for miscellaneous personal goods and services grew annually by 2.9 percent, while costs for tobacco products increased by 2.4 percent.

In March, prices for culture and entertainment activities and clothing and footwear expenses also witnessed marginal rises of 0.4 percent and 0.1 percent, respectively.

On the other hand, transportation costs slipped by 4.6 percent, while prices for restaurants and hotels also decreased by 0.1 percent.

The Ash Sharqiyah North Governorate saw the highest rate of inflation increases in March compared to the same period of the previous year, with the index rising by 1.3 percent.

Inflation in the Al-Wusta Governorate grew by 1.1 percent, while it rose by 1 percent in the North Al-Batinah Governorate.

Natural gas production dips

Meanwhile, an additional report by Oman News Agency revealed that the country’s domestic production and import of natural gas decreased by 2 percent to reach 8.38 billion cubic meters by the end of February, compared to the same period of the previous year.

According to the study, industrial projects accounted for 68.2 percent of natural gas uses in the Sultanate amounting to 5.72 billion cubic meters.

The total use of natural gas for oil fields reached 1.52 billion cubic meters, while the usage in power generation stations hit 1.98 billion cubic meters.

The analysis revealed that non-associated natural gas production, including imports, amounted to 6.71 billion cubic meters, while the associated production reached 1.67 billion cubic meters.

Non-associated production refers to natural gas produced from a gas well.

On the other hand, associated production refers to gas produced as a byproduct during crude oil production.