Annual inflation rate in Mongolia eased to 3.3 percent in May of 2020 from 4.7 percent in April, reaching a new low since July of 2017. Inflation eased mainly for food (4.7 percent vs 7.8 percent), clothing and footwear (5 percent vs 5.3 percent) and housing and utilities (4.5 percent vs 5.5 percent) and prices fell faster for transportation (-6.8 percent vs -3.9 percent in April). On a monthly basis, consumer prices edged up 0.1 percent after falling 0.6 percent in April.
Inflation Rate in Mongolia averaged 9.62 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. Mongolia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Inflation Rate in Mongolia is expected to be 6.00 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 4.00 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.