The Sultanate of Oman recorded a 50.2 per cent increase in producer prices during the first quarter of this year compared to the same period in 2021. Oil and gas prices led the rise by 61.7 per cent, while non-oil products rose 8.8 per cent, according to the National Centre for Statistics and Information's quarterly producer price index data.
The rise in the prices of oil and gas products was due to a 39 per cent rise in the price of refined oil products and a 66.3 per cent rise in crude oil and natural gas products, while the rise in the prices of non-oil products was due to an 11.5 per cent rise in the prices of the manufacturing group, while the prices of the mining, electricity and water group fell by 0.9 per cent. In the manufacturing group, most subgroup prices rose by varying proportions, with prices of mineral products, machinery and equipment rising by 20.7 per cent, food, beverage and textile prices by 13.3 per cent and prices of other transportable goods products by 6.0 per cent. In the food and textile group, the prices of fish, fruit, vegetable and oil products rose by 28.9 per cent, dairy prices rose 12.8 per cent, bakery and other food products by 4.9 per cent, beverage prices by 4.3 per cent and shoe prices by 1.8 per cent. Prices for chemical products rose by 11.7 per cent, dyes and pharmaceutical products by 11.3 per cent, rubber and plastic products by 6.1 per cent, recycled iron waste products by 4.7 per cent, and paper products by 2.2 per cent, while glass, cement and marble products fell 4.1 per cent. In the category of mineral products, machinery and equipment, the prices of "iron, steel or aluminium" products increased by 36.9 per cent, "iron ore, steel or aluminium products" by 25.4 per cent, "empty CDs" products by 19.1 per cent, and "power transformers, electricity and cable distribution devices" products by 14 per cent.