Annual inflation rate in Mongolia climbed to 8.9 percent in August of 2019 from 7.4 percent in the prior month. It was the highest inflation rate since February of 2015, as prices advanced faster for food & non-alcoholic beverages (13.3 percent vs 7.4 percent in July); housing & utilities (12.1 percent vs 9.1 percent); transport (3.4 percent vs 2.9 percent); furniture & household equipment (4.3 percent vs 4.2 percent); education (9.7 percent vs 5.6 percent); alcoholic beverages & tobacco (4.2 percent vs 3.0 percent); miscellaneous goods & services (6.2 percent vs 5.9 percent) and restaurants & hotels (11 percent vs 9.4 percent). On the other hand, cost slowed for clothing & footwear (9.3 percent vs 9.7 percent); recreation & culture (14.4 percent vs 15.4 percent) and health (6.5 percent vs 8.1 percent). On a monthly basis, consumer prices increased 0.3 percent, after a 0.2 percent decline in July. Inflation Rate in Mongolia averaged 9.83 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.