Oman Feb inflation falls for a third month on food

COOL DOWN: Inflation in January had fallen below 10 percent for the first time in more than a year.(Getty Images)

Annual inflation in Oman fell for a third month to 7.9 percent in February, its lowest level in 15 months, as food price pressures continued to decline.

The Gulf state's consumer price index fell 0.2 percent from January, the Ministry of National Economy said in a report on its website, without giving the index points or a breakdown.

Inflation in January had fallen below 10 percent for the first time in more than a year. February's inflation rate was the lowest since November 2007.

The decline in Oman's inflation rate - which had peaked at almost 14 percent last summer - is part of a wider trend across the oil-exporting Gulf region, where most states peg their currencies to the US dollar.

Recent strength in the greenback has relieved pressure on import costs while a slump in oil prices amid a global financial crisis has dampened pressure on commodities prices.

The ministry said the cost of foodstuffs eased 1.7 percent as prices fell broadly, including a 5.3-percent drop in the cost of fish, 2.7 percent decline in prices for milk and dairy products and 1.5 percent easing in meat and poultry prices.

The food, beverages and tobacco index accounts for almost a third of the total consumer price index.

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