SULTANATE’S INFLATION RISES 0.63% IN JULY

MUSCAT: Oman’s annual rate of inflation rose 0.63 per cent in July, while on a month-on-month basis the rate was up 0.25 per cent.

According to the consumer price index report issued by the National Centre for Statistics and Information (NCSI), prices in the housing and utility segment – including water, electricity, gas and other types of fuel – increased 1.39 per cent over the 12-month period through to July of 2014.

Education costs were up 6.27 per cent, while health care jumped 5.72 per cent, furniture, household items and regular maintenance 7.28 per cent, restaurants and hotels 0.88 per cent.

Tobacco was up 0.34 per cent and culture and leisure 0.41 per cent. Price declines were recorded in the food and non-alcoholic beverages segment (which accounts for 23.9 per cent of total expenditure), of 0.03 per cent, while prices for clothes and footwear fell by 0.07 per cent.

SOURCE: MUSCAT DAILY