Government continues to monitor prices, markets and supply chains

Muscat: Developments in inflation are gaining increasing importance amid the transformations taking place in the global economy, underscoring the need to continue monitoring economic indicators and assessing their impact on national economies.

Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, said that Oman’s average inflation rate stood at around 2.9% from January to August 2026, compared with approximately 4.7% globally, according to International Monetary Fund (IMF) projections.

In a statement to Oman News Agency (ONA), Al Maawali said inflation in the global economy has become increasingly linked to changes in international markets amid growing economic interconnectedness, intertwined supply chains, and movements in trade and investment. These factors cause the impact of global developments to extend to countries and sectors to varying degrees.

He noted that geopolitical developments and changes affecting supply chains in the region have contributed to influencing transportation and supply costs, as well as the prices of a number of goods and services globally. Given its integration with international markets, the Omani economy is affected by these developments to varying degrees.

Al Maawali affirmed that the government continues to monitor price movements, markets and supply chains and take appropriate policies and measures to help maintain market stability, ensure the availability of goods and mitigate the impact of external fluctuations on the national economy, thereby supporting social stability and sustainable growth.

He explained that the Ministry of Economy, in coordination with relevant authorities and partners, is working to strengthen Oman’s economic and institutional capabilities and enhance the resilience of the national economy and its ability to respond to external developments and mitigate their effects, while maintaining sustainable growth.

Al Maawali stressed that addressing inflation forms part of an integrated economic and social approach aligned with the State’s fiscal and monetary policies. The approach takes into account the balance between price stability and sustainable growth, supports private-sector activity, and strengthens the resilience of supply chains while diversifying their sources to support sustainable economic and social development.