FINANCIAL NEWS

Oman’s inflation rate increases 0.73 percent

04 May 2014

(MENAFN) Inflation rate in Oman witnessed an increase by 0.73 percent in March 2014 compared to the same period a year earlier, however the March rate recorded a 9.06 percent decline on a monthly basis, Times of Oman reported.

A report by the National Centre for Statistics and Information (NCSI) details the main reasons underlying the increase in the inflation rate in March 2014 compared to the year-ago period.

Housing, water, electricity, gas and other fuels grew by 1.38 percent, clothing and footwear increased by 0.34 percent, while food and non-alcoholic drinks increased by 2.42 percent.

Meanwhile, education costs recorded the highest increase of 6.24 percent, while hotel and restaurant costs increased by 1.25 percent, furnishings, household equipment and routine household maintenance each grew 1.44 percent.

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