Mongolia’s inflation rate increased to 5.6 percent in January of 2020 from 5.2 percent in the previous month. It was the highest inflation since October of 2019, as prices advanced faster for housing & utilities (5.2 percent vs 3.2 percent in December) and furniture & household equipment (4.0 percent vs 3.9 percent) while transport cost rebounded (1.1 percent vs -1.4 percent). On the other hand, prices slowed for food & non-alcoholic beverages (7.8 percent vs 8.3 percent); clothing & footwear (6.7 percent vs 7.1 percent); recreation & culture (9.1 percent vs 9.3 percent); alcoholic beverages & tobacco (2.7 percent vs 3.3 percent); miscellaneous goods & services (5.7 percent vs 5.8 percent) and restaurants & hotels (9.3 percent vs 9.8 percent). On a monthly basis, consumer prices went up 0.9 percent, following a 0.6 percent rise in the prior month.
Inflation Rate in Mongolia averaged 9.73 percent from 2007 until 2020, 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. This page provides the latest reported value for - Mongolia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Inflation Rate in Mongolia is expected to be 4.00 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 7.50 in 12 months time. In the long-term, the Mongolia Inflation Rate is projected to trend around 7.00 percent in 2021 and 6.50 percent in 2022, according to our econometric models.