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Oman inflation increases to 3.1%

Inflation in Oman hit 3.1 percent in April, up from 2.6 percent in the previous month, the latest statistics released by the National Economy Ministry showed on Monday.

Despite the month on month rise, the rate for April was down from 4.9 percent in the same month in 2009.

The increase compared to March was driven by a 3.1 percent hike in personal commodities and services, a 0.7 percent rise in medical services and a 0.5 percent increase in house rents, electricity, water and fuel, Oman News Agency reported.
Other commodity groups witnessed a decline such as the transportation and services group which declined by 0.7 percent while price indices for foodstuffs, beverage, tobacco, furniture and housing materials remained stable, the figures showed.

In March, officials said they expected Oman’s inflation to  accelerate this year to 4-5 percent as the economy improves while sharply higher oil prices should enable the government to post a budget surplus.

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