Current inflation عُمان 0.5%
November 2024
Current Inflation
Inflation is very low at 0.5%, well below the ECB target.
Historical Context
Inflation is 0.6 percentage points lower than the 5-year average of 1.1%.
- 5-year average
- 1.1%
- 10-year average
- 1%
- All-time high (2008)
- 12.4%
- All-time low (2020)
- -0.4%
Trend
Over the period 2022-2024, inflation shows a downward trend. Compared to 2023, average inflation in 2024 through November has fallen by 0.4 percentage points.
ECB Target
Inflation is 1.5 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for OMR 100 this year will cost approximately OMR 100.500 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- Average 2024 through November
- 0.6%
- Last year
- 1.0%
- 5-year average
- 1.1%
- All-time high (2008)
- 12.4%