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FINANCIAL NEWS
Oman’s inflation to grow, impact people’s purchasing power
04 Jan 2017
(MENAFN) Oman’s inflation is predicted to increase for essential goods and services this year, which will make a decline in the purchasing power of consumers.
Accordingly, Consumer Price Index (CPI)-based inflation could increase to reach 1.5 percent in the recent year.
Moreover, the inflation will hit low-income people and it will also affect schools, colleges and other public institutions.
Meanwhile, the cost of living will increase, and in turn will affect all other businesses, while the Sultanate”s economy is dependent on imported products.
M
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