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Tue 13 Jul 2010 10:04 AM

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Oman price index rises 2.2% in Q1 - official data

Ministry of Economy figures also shows 1.8% increase compared to Q4 2009.

Oman price index rises 2.2% in Q1 - official data

Oman's price index rose by 2.2 percent in the first quarter of 2010 compared to the same period last year, the Ministry of National Economy said on Tuesday.

Its monthly statistical bulletin said that the index also increased by 1.8 percent from the previous quarter, driven mainly by agricultural products, food and drink.

The country witnessed a decline in the wholesale price for the materials and mineral group, as well as the other transferable commodities group, Oman News Agency reported.

The wholesale price for agricultural products surged 9.4 percent in the first quarter due to a hike in the prices of fruits and live animals by 18.8 and 14.8 percent respectively.

Food prices also rose, driven by increases in prices of sugar, rice, chicken, kingfish and corn oil.

The mineral group, machinery and equipment rose by 1.7 percent due to the increase in the iron price by 10 percent.

Last week, it was reported that Oman's inflation rate hit 3.2 percent in May, a marginal increase on the previous month but down compared to the 3.9 percent recorded in May 2009.

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