Average inflation rate in Oman for 2017 forecast at 4.1%SharelinesMuscat: Average inflation rate in Oman is expected at 4.1 per cent this year, up from 1.1 per cent in 2016. However, it is much lower than the 8 per cent inflation estimate for the entire Middle East and North Africa (MENA) region for the current year. “The expected increase in the inflation rate is consistent with the removal of subsidies, higher expected interest rates, and the debt-financed budget deficit. The report also said the inflation rate in the Middle East and North Africa (Mena) region is expected to average at 8 per cent in 2017. The general outlook for the next three years—between 2018 and 2020—remains stable; however, with an inflation rate around 3.3 per cent across the globe.

Source: The North Africa Journal August 16, 2017 13:18 UTC