Oman's producer price-based inflation falls

Muscat: The Sultanate's producer price index (PPI)-based inflation fell by 12.3 per cent in the fourth quarter of 2019 compared to the same period of the previous year due to a fall in oil and gas prices, according to the latest statistics released by the National Centre for Statistics and Information (NCSI).
The price index of oil and gas products fell by 13.8 per cent, and those of non-oil products fell by 3.9 per cent in the fourth quarter of 2019, over the same period of 2018.
Among oil and gas group, refined oil products fell by 10.8 per cent, and the price index of crude oil and natural gas fell by 14.3 per cent in the fourth quarter of 2019 compared to the same period of the previous year. In the non-oil group, the price index of the manufacturing group fell by 5.1 per cent.
Among different sub-groups in the manufacturing sector, the price index of most of the product groups fell at varying degrees. The producer price index of food, beverages and textiles products group dropped by 3.7 per cent whereas those of transportable goods fell by 5.1 per cent.
In the food, beverages and textiles products group, the price index of beverages fell by 3.7 per cent; clothing, textiles and footwear by 2.8 per cent; and fish, fruits, vegetables and oils by 3 per cent whereas those of dairy products and bakery products rose by 3.4 per cent and 0.7 per cent, respectively, added the NCSI report.
The price index of paints and pharmaceutical products rose by 3.1 per cent whereas a decline was witnessed in the prices of wood and paper products by 0.5 per cent, chemical products by 10.8 per cent; glass, cement and marble products by 2.9 per cent; and furniture products, jewellery and anti-melted metal waste by 0.2 per cent, the NCSI bulletin showed.
The price index of metal products, machinery and equipment in the fourth quarter of 2019 fell by 6.2 per cent compared to the same period of 2018. There was a drop in the price index of distribution and delivery of electricity apparatus, recording tapes and CDs by 3.4 per cent, raw metals and its finished products fell by 11.3 per cent and those of fabricated steel and aluminium products by 1.9 per cent, the report stated.