Annual inflation in Oman dipped below 7 percent in October but stayed near September's 16-year high as food prices in the Gulf Arab state, which pegs its currency to the weak dollar, rose 12 percent, government data showed.
Inflation was 6.84 percent in the year to October, compared with 7.1 percent in September, the Ministry of National Economy said on its Web site.
Food, beverage and tobacco prices, which account for almost a third of the index, gained 12 percent over the 12 months, slowing slightly from 14 percent in September.
The dollar's tumble to record lows against the euro and a basket of six major currencies in November has driven up Oman's import costs.
Some 5.2 percent of Oman's imports in 2006 were from the United States, while 17.3 percent were from Japan, 5.1 percent from Germany, 5.3 percent from India and 3.4 percent from Britain, according to the 2006 Oman central bank annual report. Commerce Minister Makboul bin Ali bin Sultan said in October that Oman had considered measures including unshackling its rial currency from the US dollar and price caps to contain inflation but had decided against such moves.
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