Friday, August 17, 2007

The hard facts on inflation in Oman

Annual inflation in Oman accelerated to 5.9% in June, the highest in at least two and a half years, as food costs and rents jumped, official data showed.

The consumer price index rose to 110.3 points compared with 104.2 points in the year-earlier, according to data published on the Ministry of National Economy website. Inflation was 4.3% in May.

The cost of food, beverages and tobacco, which account for around 30% of the index, rose 11.1% in June, compared with 9.1% in the previous month. (Link)

Cost of food went up 11.1% in one month. Add the 9.1% the previous month and that's a 20% increase in just May and June!

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