Oman inflation hits 1.3% fueled by food and drink prices 

Food and non-alcoholic beverages saw an increase of 3.4 percent compared to the same period in the previous year. Shutterstock.
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Updated 26 October 2023
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Oman inflation hits 1.3% fueled by food and drink prices 

RIYADH: Food and beverage prices pushed Oman’s inflation to 1.3 percent in September, latest figures have shown. 

Data released by the National Centre for Statistics showed the rate continued to gather pace after it recorded levels of o.2 percent in July and 0.6 percent in August. 

However, the figure is still lower than September 2022, when it stood at 2.4 percent. 

The consumer price index recorded rises in many categories, with the food and non-alcoholic beverages subgroup registering an increase of 3.4 percent compared to the same period in the previous year. 

The report added that fish and seafood surged by 11.3 percent, while the milk, cheese and eggs subcategory rose by 8.6 percent, and fruit increased by 4.6 percent. 

Moreover, other foodstuffs saw an increase of 4.3 percent, while vegetables recorded a 4 percent rise compared to the same period of 2022. Similarly, oils and fats rose by 3.9 percent, while sugar, jam, honey and sweets registered a 3.3 percent upsurge. 

Additionally, non-alcoholic beverages registered an annual increase of 0.9 percent, while bread and cereals recorded a 0.8 percent rise. The meat group, on the other hand, rose annually by 0.1 percent and by 2.3 percent over the previous month. 

The transport prices fell by 1.37 percent, while the communications sector saw a drop of 0.18 percent. 

Geographically, the NCSI added, Al-Dhahirah recorded the highest inflation rate with 1.6 percent, while Al-Dakhlia and Dhofar registered the lowest rate with 1 percent.   

The report noted that the governorates of Muscat and North Al-Batinah clocked an inflation rate of 1.4 percent, adding that the inflation rate reached 1.3 percent in North Al-Sharqiyah and South Al-Sharqiyah governorates. At the same time, it stabilized in the Al-Buraimi governorate. 

According to Oman News Agency, a rise was also recorded in other main groups, such as miscellaneous goods and services, which rose by 2.68 percent and tobacco, which recorded a 2.35 percent increase. Furthermore, restaurants and hotels registered a 2.27 percent jump, while furniture, household equipment and routine household maintenance recorded a 2.02 percent increase. 

Likewise, housing, water, electricity, gas and other fuel types rose by 1.29 percent, while culture and recreation increased by 1.15 percent. On the other hand, health, clothes and footwear, along with education registered 0.63, 0.45 and 0.05 percent increases, respectively. 

Transport prices went down by 1.37 percent while communications slightly slipped by 0.18 percent. 


Saudi Arabia, Japan trade rises 38% between 2016 and 2024, minister says

Updated 11 January 2026
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Saudi Arabia, Japan trade rises 38% between 2016 and 2024, minister says

RIYADH: Trade between Saudi Arabia and Japan has increased by 38 percent between 2016 and 2024 to reach SR138 billion ($36 billion), the Kingdom’s investment minister revealed.

Speaking at the Saudi-Japanese Ministerial Investment Forum 2026, Khalid Al-Falih explained that this makes the Asian country the Kingdom’s third-largest trading partner, according to Asharq Bloomberg.

This falls in line with the fact that Saudi Arabia has been a very important country for Japan from the viewpoint of its energy security, having been a stable supplier of crude oil for many years.

It also aligns well with how Japan is fully committed to supporting Vision 2030 by sharing its knowledge and advanced technologies.

“This trade is dominated by the Kingdom's exports of energy products, specifically oil, gas, and their derivatives. We certainly look forward to the Saudi private sector increasing trade with Japan, particularly in high-tech Japanese products,” Al-Falih said.

He added: “As for investment, Japanese investment in the Kingdom is good and strong, but we look forward to raising the level of Japanese investments in the Kingdom. Today, the Kingdom offers promising opportunities for Japanese companies in several fields, including the traditional sector that links the two economies: energy.”

The minister went on to note that additional sectors that both countries can also collaborate in include green and blue hydrogen, investments in advanced industries, health, food security, innovation, entrepreneurship, among others.

During his speech, Al-Falih shed light on how the Kingdom’s pavilion at Expo 2025 in Osaka achieved remarkable success, with the exhibition receiving more than 3 million visitors, reflecting the Japanese public’s interest in Saudi Arabia.

“The pavilion also organized approximately 700 new business events, several each day, including 88 major investment events led by the Ministry of Investment. Today, as we prepare for the upcoming Expo 2030, we look forward to building upon Japan’s achievements,” he said.

The minister added: “During our visit to Japan, we agreed to establish a partnership to transfer the remarkable Japanese experience from Expo Osaka 2025 to Expo Riyadh 2030. I am certain that the Japanese pavilion at Expo Riyadh will rival the Saudi pavilion at Expo Osaka in terms of organization, innovation, and visitor turnout.”

Al-Falih also shed light on how Saudi-Japanese relations celebrated their 70th anniversary last year, and today marks the 71st year of these relations as well as how they have flourished over the decades, moving from one strategic level to an even higher one.