Oman annual inflation falls to 3.9 pct in May

DUBAI, June 29 - Annual inflation in Oman fell for a sixth straight month to 3.9 percent in May, the lowest rate in 31 months, the Ministry of National Economy said on Monday.

Inflation fell from 4.9 percent in April. The ministry did not give a breakdown of the figure. Inflationary pressures have dropped off quickly across the oil-exporting region as oil prices fell from peaks of $147 a barrel last July and the dollar strengthened, easing import costs for states like Oman that peg their currencies to the U.S. currency.

Oman's annual inflation rate peaked at almost 14 percent in the middle of last year.

Oil prices have recovered to around $70 a barrel after falling to the mid-$30 range earlier this year.

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