Annual inflation rate in Mongolia went down to 6.9 percent in February of 2019 from 7.3 percent in the previous month. It was the lowest inflation rate since October of 2018 as cost slowed for food & non-alcoholic beverages (8.8 percent vs 10.8 percent in January) and for transport (4.9 percent vs 5.9 percent). On the other hand, prices rose faster for housing & utilities (10.9 percent vs 10.5 percent in January) and for clothing & footwear (6.5 percent vs 5.3 percent). On a monthly basis, consumer prices went up 0.5 percent, following a 0.6 percent rise in the prior month. Inflation Rate in Mongolia averaged 9.92 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 8.20 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 8.10 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.