Mongolia Inflation Rate Hits 3-Year High

The annual inflation rate in Mongolia accelerated to 11.2% year-on-year in May 2026 from 10.1% in the previous month, reaching its highest level since May 2023. Prices rose faster for food and non-alcoholic beverages (23.4% vs 19.7% in April), while inflation continued to increase for clothing and footwear (6.8% vs 6.4%), health (7.1% vs 6.9%), communication (1.6% vs 1.5%), restaurants and hotels (11% vs 10.4%), and alcoholic beverages and tobacco (11.4% vs 10.2%). Meanwhile, inflation eased slightly for furnishings, household equipment and tools (7.8% vs 7.9%), transport (5.8% vs 5.9%), recreation and culture (6.3% vs 6.6%), and miscellaneous goods and services (9.8% vs 9.9%), while remaining unchanged for education (12.8%) and insurance and financial services (17%). On a monthly basis, consumer prices increased 1.2% in May, slowing from a 2.8% rise in the previous month.

The annual inflation rate in Mongolia rose to 10.1% in April 2026 from 7.4% in the previous month. This marked the highest reading since September 2023, as prices increased at a faster pace for food and non-alcoholic beverages (19.7% vs 14.1% in March), alcoholic beverages and tobacco (10.1% vs 8.1%), housing and utilities (1.6% vs 1.3%), furnishings, household equipment and tools (7.9% vs 7.2%), health (6.9% vs 6.1%), restaurants and hotels (10.4% vs 9.9%), insurance and financial services (17.0% vs 3.9%), and miscellaneous goods and services (9.9% vs 8.7%). Additionally, transport costs rebounded sharply (5.9% vs -0.1%), while remaining steady in communication (1.5%), recreation and culture (6.6% vs 6.5%), and education (12.8%). Meanwhile, growth moderated slightly in clothing and footwear (6.4% vs 6.5%). On a monthly basis, consumer prices rose 2.8% in April, the highest since January 2012, following a 1.2% increase in March.

The annual inflation rate in Mongolia rose to 7.4% in March 2026, following an eighteen-month low of 6.5% in the previous month. Prices increased at a faster pace for food and non-alcoholic beverages (14.1% vs 12.3% in February), alcoholic beverages and tobacco (8.1% vs 7.5%), furnishings, household equipment and tools (7.2% vs 6.3%), and recreation and culture (6.6% vs 6.5%). Additionally, price growth was steady for clothing and footwear (6.5%), communication (1.5%), education (12.8%), insurance and financial services (3.9%), and miscellaneous goods and services (8.7%). Meanwhile, costs moderated for housing and utilities (1.3% vs 2%), health (6.1% vs 6.2%), and restaurants and hotels (9.9% vs 10.6%). On a monthly basis, consumer prices rose 1.2% in March, the highest in seven months, following a 0.5% increase in February.