Consumer prices in Oman decreased by 0.73% year-on-year in June of 2020, following a 0.96 percent fall in the previous month. This marked the fourth straight month of deflation but at a softer pace. Main downward pressure came from prices of transport (-6.95% vs -7.95% in May); furnishings (-0.31% vs -0.35%); housing & utilities (-0.52%, the same pace as in May); clothing & footwear (-1.13% vs -1.46%) and miscellaneous goods & services (-1.62% vs -1.34%). Meanwhile, inflation edged higher for food & non-alcoholic beverages (3.39% vs 3.33%), of which vegetables (10.55%). On a monthly basis, consumer prices increased 0.42%, after rising 0.18% in the prior month.
Inflation Rate in Oman averaged 3.02 percent from 2005 until 2020, reaching an all time high of 14.50 percent in June of 2008 and a record low of -0.97 percent in April of 2020. This page provides - Oman Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Oman Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Inflation Rate in Oman is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Oman to stand at 1.60 in 12 months time. In the long-term, the Oman Inflation Rate is projected to trend around 2.00 percent in 2021 and 2.50 percent in 2022, according to our econometric models.