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Inflation Falls to Seven-Month Low in Oman

The Economy Ministry of Oman announced that the inflation for the month of September reached a seven-month low of 3.7% annualized rate. Prices fell 0.3% for the month, due mainly to the slump in the price of gold.

There is an expectation that the Sultanate’s economy will expand by about 4% overall this year, and even higher in 2012, with a hope that it will grow by 4.2%.

Much of the expected expansion is due to the government’s increased investment in the nation’s infrastructure, helping to boost the economy while at the same time laying the groundwork for even more expansion and development.

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