MUSCAT: The Ministry of Economy has announced that the inflation rate in the Sultanate of Oman continues to remain at moderate and stable levels. According to official data, the average inflation rate recorded between the years 2021 and 2024 stands at 1.4 percent, reflecting the government’s ongoing efforts to maintain economic stability and curb rising prices. This announcement comes amidst global economic fluctuations, where many countries have experienced higher inflation rates due to supply chain disruptions and increased demand for goods and services.
The Ministry attributes this moderate rate to several key factors, including stable monetary policies, controlled public spending, and efficient regulation of commodity prices. The Central Bank of Oman’s role in ensuring monetary stability and the government’s attention to market regulation have played a major part in minimizing inflationary pressures. By closely monitoring global trends and implementing proactive fiscal policies, the authorities have successfully shielded the domestic market from external shocks.
Economic experts in Oman also highlight that the inflation rate has been kept in check due to the availability of basic commodities, government subsidies in essential sectors, and support for food and fuel supply chains. Additionally, the strategic stockpiling of essential goods and smooth logistics across the country have contributed to preventing sudden spikes in prices. These measures are part of the broader vision under Oman Vision 2040 to promote sustainable economic growth and improve living standards.
Looking ahead, the Ministry of Economy has expressed optimism that inflation levels will remain contained through continued policy coordination and economic resilience. Authorities aim to enhance productivity and diversify the economy while protecting consumer purchasing power. Citizens and residents can expect price stability to remain a government priority, reinforcing confidence in the national economy and supporting long-term growth goals.
