Oman's inflation rate rose to 3.4% in August, hitting a three-month high

⑴ Oman's annual inflation rate rose from 3.2% in July to 3.4% in August, marking the highest level since May. ⑵ Transportation prices increased by 8.5% year-on-year, up from the previous value of 6.5%, mainly driven by higher crude oil prices and escalating U.S.-Iran tensions which have pushed up fuel costs. The price growth of miscellaneous goods and services accelerated from 5.3% to 6.1%. ⑶ Food prices rose by 7.0%, slightly easing from 7.3% but still remaining elevated; restaurant and hotel prices stayed steady at 3.6%; prices of furniture, household equipment, and routine home maintenance held at 3.1%. ⑷ Housing and utilities prices fell for the second consecutive month, with a decrease of 0.6%. ⑸ Month-on-month, consumer prices in August dropped by 0.3%, compared to a rise of 0.7% in the previous period.