Oman’s annual inflation rate accelerated to 3.4% in August 2026 from 3.2% in July, reaching its highest level since May. Transport prices were the main driver, rising 8.5% year-on-year compared with 6.5% in July as fuel costs increased amid higher crude prices and escalating US-Iran tensions. Inflation also strengthened for miscellaneous goods and services, while food-price growth eased but remained elevated. Housing and utilities prices declined for a second straight month, and consumer prices fell 0.3% month-on-month after rising 0.7% in July.