JEDDAH: Oman’s inflation rate rose 3.2 percent year on year in July, while average inflation stood at 2.9 percent in the first seven months of the year, according to official data.
Data from the National Centre for Statistics and Information showed that food and non-alcoholic beverages recorded the highest annual increase among the main consumer price categories, rising 7.3 percent.
Oman’s inflation rate was higher than the latest readings from several Gulf peers. Saudi Arabia recorded annual inflation of 1.8 percent in July, while Qatar and Kuwait posted rates of 2.21 percent and 2.19 percent, respectively, in June.
Oman’s latest inflation reading comes as the Sultanate continues to pursue economic diversification under Oman Vision 2040, with the economy showing growth across oil and non-oil activities. Real gross domestic product expanded 2.6 percent year on year in the first quarter of 2026, while oil activities grew 4.6 percent, according to official data.
Transport followed with a 6.5 percent increase, while miscellaneous goods and services rose 5.3 percent. Restaurants and hotels increased by 3.6 percent, and furniture, household equipment, and routine household maintenance climbed 3.1 percent.
