The global inflation index has indicated that the inflation rate in the Sultanate of Oman has decreased by two and a half times. Oman has the lowest inflation rate among Arab countries. The index stated that the inflation rate in the Sultanate of Oman reached about 1.8 percent in January 2023, down from 4.4 percent in January 2022.
It pointed out that the highest rate of inflation witnessed by the Sultanate was in January 2008, when it reached 13.75 percent. The rate of inflation began to show signs of abating from its highest levels in several decades in many countries, in the wake of the outbreak of the Russian-Ukrainian war.
It also stated that the latest figures for most of the largest economies in the world are still of concern as price pressures are still high. With the continuation of the war in Ukraine, energy and food prices have been maintained high, although in some countries the pressures have eased and wholesale prices of energy and food have decreased.
