Oman’s producer price index (PPI) based inflation fell by 22.9% in the fourth quarter of 2020, compared to the same period of the previous year due to a fall in oil and gas prices, a media report said.
The price index of oil and gas products dropped by 28.3% whereas those of non-oil products rose by 4.3% in the 4th quarter of 2020, compared to the same period of 2019, reported Oman News Agency (ONA), citing the latest statistics released by the National Centre for Statistics and Information (NCSI).
Among oil and gas group, the price index of crude oil and natural gas declined by 29.9%, refined oil products fell by 18.7% in the fourth quarter of 2020, compared to the same period of 2019.
In the non-oil group, the price index of the manufacturing group rose by 4.3%. Among different sub-groups in the manufacturing sector, the price index of most of the product groups fell at varying degrees.
The PPI of metal products, machinery and equipment declined by 0.9% whereas those of transportable goods rose by 10.2% and food, beverages and textiles products group rose by 4.6% as well.
In those of food, beverages and textiles products group, the price index of fish, fruits, vegetables and oils increased by 9.0%, beverages by 13.4% and clothing, textiles and footwear by 4.4%, the NCSI report added.
The price index of paints and pharmaceutical products fell by 2.5%, wood and paper by 0.6%, furniture products, jewellery and anti-melted metal waste by 0.1%.
Meanwhile, the prices of chemical products rose by 28.5%, glass, cement and marble products by 0.7%.
The price index of metal products, machinery and equipment in the fourth quarter of 2020 declined by 0.9%, compared to the same period of 2019.