Consumer prices in Oman decreased by 1.51 percent year-on-year in October of 2020, following a 1.22 percent fall in September, the eighth consecutive month of deflation. Main downward pressure came from prices of transport (-7.02 percent vs -5.67 percent in September); housing & utilities (-0.42 percent, the same pace as in September); clothing & footwear (-0.30 percent vs -0.56 percent) and furnishings (-0.29 percent vs -0.31 percent). Meantime, costs went up mostly for food & non-alcoholic beverages (0.32 percent vs 0.40 percent) and recreation & culture (0.51 percent vs 0.20 percent). On a monthly basis, consumer prices were down by 0.11 percent, after decreasing 0.43 percent in the previous month. source: National Center for Statistics & Information - Oman
Inflation Rate in Oman averaged 2.92 percent from 2005 until 2020, reaching an all time high of 14.50 percent in June of 2008 and a record low of -1.51 percent in October 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 November 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 2.50 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.