Complex Made Simple

Oman’s annual inflation drops to 0.1% in January

Oman’s National Centre for Statistics and Information (NCSI) has said the sultanate’s annual inflation dropped to 0.1% in January 2014 from 0.3% in December and 0.5% in November 2013, due to stable global commodity prices and a significant decline in the prices of communications services and personal care items, Muscat Daily has reported. Inflation in the food, beverages and tobacco categories – which has over 30% weight in Oman’s consumer price index (CPI), was at 2.3% in January. The price increase in the food category was driven by fish and seafood products that witnessed an increase of 18.7% in January prices on year-on-year basis.