Oman's producer price index (PPI)-based inflation registered by 16.3 percent rise in the first quarter of 2018, over the same period of last year, mainly driven by a phenomenal growth in prices of oil and gas products, according to the latest statistics released by the Centre .
Prices of oil and gas products increased by 19.9 percent, while the prices of non-oil products marginally grew by 2.2 percent in the first quarter of 2018, over the same period of the previous year. Among oil and gas group, crude oil and natural gas price soared by 19.8 percent, while prices of refined products grew by 20.4 percent in the first quarter of 2018, over the same period of the previous year. Among non-oil group, the prices of the manufacturing group rose by 3.5 percent in the first quarter, while there was a fall in the prices of mining, electricity and water group index by 1.6 percent.
In the manufacturing group, the prices of most of the subgroups rose at varying degrees. Metal products, machinery and equipment recorded an increase of 11 percent and other transportable goods by 3.2 percent, while producer prices of the food, beverage and textile products group declined by 4.2 percent. However, in food products, beverages and textiles group, prices of dairy products fell by 6.1 per cent, fish and fruit products, vegetables and oils by 5.9 percent, bakery products and other food products by 3.9 percent, garments and textiles and footwear by 0.8 percent and beverage products by 0.1 percent, added the NCSI report. Among transportable goods group, producer price index of products of gases, acids and polypropylene rose by 8.5 percent, rubber and plastic products by 3.7 per cent, wood and paper products by 2.4 percent and furniture products, jewelry and iron by 1 per cent.
This was in contrast to the decline in the prices of the products of dyes and pharmaceutical products by 1.9 percent and products of glass, cement and marble by 1.5 percent, the NCSI bulletin said. Also, the prices of metal products, machinery and equipment group increased by 11 percent in the first quarter of 2018, over the same period of the previous year.
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