The Sultanate's producer price index (PPI)-based inflation fell by 22.9% in the fourth quarter of 2020 compared to the same period of the previous year due to a fall in oil and gas prices, according to the latest statistics released by the NCSI.

The price index of oil and gas products fell by 28.3%, and those of non-oil products rose by 4.3% in the fourth quarter of 2020, over the same period of 2019.

Among oil and gas group, the price index of crude oil and natural gas fell by 29.9%, and refined oil products fell by 18.7% in the fourth quarter of 2020 compared to the same period of the previous year. In the non-oil group, the price index of the manufacturing group rose by 4.3%.

Among different sub-groups in the manufacturing sector, the price index of most of the product groups fell at varying degrees.

The producer price index of metal products, machinery & equipment fell by 0.9%, whereas those of transportable goods rose by 10.2% and food, beverages and textiles products group rose by 4.6%.

 In those of food, beverages and textiles products group, the price index of fish, fruits, vegetables and oils rose by 9.0%, beverages by 13.4% and clothing, textiles and footwear by 4.4%, added the NCSI report.

The price index of paints and pharmaceutical products fall by 2.5%; wood and paper by 0.6%, furniture products, jewelry and anti-melted metal waste by 0.1%, whereas the prices  was rise in chemicals products by 28.5%; glass, cement and marble products by 0.7%; where the NCSI bulletin showed.

The price index of metal products, machinery and equipment in the fourth quarter of 2020 fell by 0.9% compared to the same period of 2019. There was a drop in price index of fabricated steel or aluminum products by 3.7%, distribution and delivery of electricity apparatus, recording tapes and CDs by 1.4%, and the prices of air conditioning, heating and pumping water, drilling of oil wells apparatus, & car oil filters fall by 0.8%, while the prices of raw and of fabricated steel or aluminum products increased by 0.6%.