Arab News: Oman’s import prices recorded a sharp increase in the final quarter of 2025, driven largely by higher machinery and transport equipment costs.
The overall import price index rose 14.8 percent in the fourth quarter compared with the same period in 2024, the Oman News Agency reported, citing data from the National Center for Statistics and Information.
The machinery and transport equipment group recorded the largest increase, rising 39.4 percent year on year.
Despite higher import costs, inflation remained moderate, with the Ministry of Economy saying average consumer inflation stood at 0.94 percent from January 2025 to November.
This comes as the International Monetary Fund said in a December report that Gulf countries have largely contained inflation, supported by currency pegs and regulated prices, with inflation expected to remain below 2 percent in Oman, Bahrain and Qatar, and close to 2 percent in Saudi Arabia and the UAE through 2025 and 2026.
“The Ministry noted that on a local level, inflation continues its moderate path within target ranges,” the ONA reported.
It added: “Global inflationary pressures remain relatively limited despite variables in international trade policies and rising customs duties, which still cast a shadow of uncertainty and raise concerns about future inflation.”
The ministry credited proactive government policies for successfully mitigating the impact of global price surges on local markets, thereby protecting household purchasing power and maintaining a stable economic growth trajectory.
The NCSI report revealed other commodity groups also contributing to the upward trend. Chemicals and related products rose by 9.6 percent, and animal and vegetable oils, fats, and waxes climbed by 9.3 percent.
Smaller increases were noted in miscellaneous manufactured articles, which went up by 4.3 percent, and the beverages and tobacco group, which saw a 3.3 percent rise.
By contrast, mineral fuels, lubricants, and related materials fell 8.6 percent.
Manufactured goods classified chiefly by material also dropped by 4.9 percent, while crude materials, excluding fuel, saw a marginal decline of 0.2 percent. The food and live animals category remained stable, showing no change over the year.
When compared to the immediate previous quarter, the index showed a modest quarterly increase of 0.6 percent. This recent uptick was again led by chemicals and related products, which jumped 18.4 percent.
Machinery and transport equipment followed with a 15.4 percent rise, while miscellaneous manufactured articles increased by 10.4 percent. Animal and vegetable oils, fats, and waxes were up 8.9 percent, and both manufactured goods and crude materials saw more moderate gains.
Among quarterly declines, beverages and tobacco fell 16.4 percent, mineral fuels declined 15.3 percent, and food and live animals dropped 2.2 percent.
https://www.arabnews.com/node/2636666/business-economy
