The annual inflation rate in Mongolia went down to 7.4 percent in July 2019 from 8.1 percent in the previous month. It was the lowest inflation rate since April, as cost slowed for food & non-alcoholic beverages (7.4 percent vs 8.1 percent in June); clothing & footwear (9.7 percent vs 9.8 percent); transport (2.9 percent vs 4.8 percent); furniture & household equipment (4.2 percent vs 4.3 percent); recreation & culture (15.36 percent vs 17.3 percent); alcoholic beverages & tobacco (3.0 percent vs 3.8 percent) and health (8.1 percent vs 8.6 percent). Meanwhile, prices advanced faster for housing & utilities (9.1 percent vs 8.8 percent) and restaurants & hotels (9.4 percent vs 8.8 percent) while inflation was steady for education (at 5.6 percent); communication (at 1.0 percent) and miscellaneous goods & services (at 5.9 percent). On a monthly basis, consumer prices dropped 0.2 percent, after a 0.7 percent rise in June. Inflation Rate in Mongolia averaged 9.84 percent from 2007 until 2019, reaching an all time high of 34.20 percent in August of 2008 and a record low of -0.20 percent in October of 2016.
Inflation Rate in Mongolia is expected to be 8.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Mongolia to stand at 7.60 in 12 months time. In the long-term, the Mongolia Inflation Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.