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Oman inflation to drop in 2013 on lower commodity prices
- Oman: Tuesday, January 22 - 2013 at 06:27
Oman's central bank has said the sultanate's inflation is showing a downward trend due to a global decline in commodity prices, particularly of food items, which will be considerably lower during 2013, Muscat Daily has reported. "The situation on the inflation-front has been improving in Oman. The price of food items, which is the major imported item in Oman is expected to decline by 2% in 2013," the apex lender said in its 'Mid-Year Review of the Omani Economy 2012' report. In the first nine months of 2012, average inflation in Oman was 2.9%. Most of the inflation in the country is from two commodity groups - 'food, beverages and tobacco' and 'personal care items and other services,' it said.
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