The annual inflation rate in Oman increased 0.22 percent year-on-year in May 2019, easing from a 0.40 percent rise the previous month. Prices advanced at a softer pace for food & non-alcoholic beverages (0.31 percent vs 1.15 percent in April) and restaurants & hotels (0.01 percent vs 0.09 percent) while cost continued to decline for housing & utilities (-0.27 percent vs -0.26 percent) and for clothing & footwear (-0.71 percent vs -0.66 percent). On the other hand, prices rose faster for transport (0.78 percent vs 0.71 percent) and furniture & household equipment (4.88 percent vs 4.35 percent) while inflation was steady for recreation & culture (at 0.90 percent) and education (at 1.99 percent). On a monthly basis, consumer prices went up 0.17 percent, after a 0.20 percent rise in April. Inflation Rate in Oman averaged 3.27 percent from 2005 until 2019, reaching an all time high of 14.50 percent in June of 2008 and a record low of -0.55 percent in November of 2015.
Inflation Rate in Oman is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Oman to stand at 2.30 in 12 months time. In the long-term, the Oman Inflation Rate is projected to trend around 3.60 percent in 2020, according to our econometric models.