MUSCAT: Oman’s Producer Price Index (PPI)-based inflation eased by 23.3 per cent in the fourth quarter of 2015 compared to the same quarter of 2014, according to data released by National Centre for Statistics and Information (NCSI). Meanwhile, compared with the previous quarter, fourth quarter inflation was down by eight per cent. Prices of oil and gas products declined 26.6 per cent year-on-year in fourth quarter, while non-oil products fell by 7.1 per cent.
Crude Oil and Natural Gas logged a price decline of 26.2 per cent. At the same time, refined oil products went down by 29.6 per cent in the fourth quarter of last year compared with prior year. Inflation in the non-oil manufacturing sector decreased 9.6 per cent, while Mining, Electricity & Water prices went up 1.1 per cent.
Minerals, Stones & Sands also saw a 5.3 per cent upward revision, while Food, Beverages & Textiles Products logged a price fall of 5.3 per cent. The decline in Fish, Fruit, Vegetables & Oils stood at 9.3 per cent, whereas Dairy Products saw prices falling by 11.2 per cent in the fourth quarter of 2015 compared with prior year quarter.
