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Oman inflation accelerates to 4.2 per cent

Muscat, February 7, 2011

Oman's inflation accelerated to 4.2 percent on an annual basis in December as prices rose from the previous month mainly due to soaring food costs, data from the country's economy ministry showed on Monday.

The central bank and analysts have expected prices in the non-Opec oil producer to edge higher as commodity prices rose and economic recovery gathered pace.

The sultanate's economy is seen expanding by 4.6 percent this year, the same as forecast for 2010, helped by the government's infrastructure spending.

In September, Oman's central bank Executive President Hamood Sangour Al-Zadjali said he was not much worried about inflation and that it was within "a reasonable range". - Reuters




Tags: Oman | inflation | prices |

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