The Sultanate's producer price index (PPI)-based inflation fell by 5.4% in the third quarter of 2019 compared to the same period of last year due to a fall in oil and gas prices, according to the latest statistics released by the NCSI.

The price of oil and gas products fell by 5.6%, and those of non-oil products fell by 3.9% in the third quarter of 2019, over the same period of last year.

Among oil and gas group, refined oil products fell by 7.8%, and the prices of crude oil and natural gas fell by 5.2% in the third quarter of 2019 compared to the same period of the previous year. In the non-oil group, the prices of the manufacturing group fell by 5.1%.

Among different sub-groups in the manufacturing sector, the prices of most of the product groups fell at varying degrees. The producer prices of metal products, machinery and equipment dropped by 7.8%, whereas those of food, beverages and textiles products group dropped by 4.3%, and transportable goods group fell by 4%.

In the food, beverages and textiles products group, the price of beverages fell by 15.7%; fish, fruits, vegetables and oils by 6.9%; clothing, textiles and footwear by 2.7%; whereas those of dairy products and bakery products rose by 1.6% and 1.0%, respectively, added the NCSI report.

The price of paints and pharmaceutical products rose by 3.1%; and wood and paper products by 0.5%, whereas a decline was witnessed in the prices of chemical products by 7.3%; glass, cement and marble products by 3.9%; and furniture products, jewelry and anti-melted metal waste by 0.5%, the NCSI bulletin showed.

In the metal products, machinery and equipment group there was a drop in prices of raw metals and its finished products by 12.4%, distribution and delivery of electricity apparatus, recording tapes and CDs by 6.2%, and those of fabricated steel and aluminum products by 1.8%.