Inflation in Oman
Oman - InflationThe economy should have gained momentum in sequential terms in Q3, as the non-oil sector benefited from the easing of both domestic and travel restrictions. Furthermore, progress on structural reforms—which were previously put on hold due to the pandemic last year—likely continued to bear fruit in terms of reviving the labor market and propping up public coffers. Meanwhile, crude oil production and natural gas output continued to rise year-on-year, but growth rates eased relative to Q2. Turning to Q4, the ongoing easing of OPEC+ supply cuts should be stoking the oil sector, while rising tourist arrivals should be fueling consumer spending. In politics, the Council of Ministers approved a stimulus plan in late November. The package aims to support the non-oil sector by offering tax exemptions and relief, as well as reduced rents, and should fuel domestic and foreign investment next year.
Oman - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.1||1.1||1.6||0.9||0.1|
5 years of economic forecasts for more than 30 economic indicators.
Oman Inflation Chart
Source: National Center for Statistics and Information and FocusEconomics calculations.
|Exchange Rate||0.39||0.06 %||Dec 31|
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