Mongolia Inflation Rate at 16-Month High

The annual inflation rate in Mongolia rose to 9.6% in January 2025, accelerating from 9% December 2024.

This marked the highest inflation rate since September 2023, as prices increased at a faster pace for food and non-alcoholic beverages (9.4% vs 8.9% in December), transport (1.6% vs 1.5%), alcoholic beverages and tobacco (4.3% vs 3.9%), clothing and footwear (9.8% vs 9.4%), furnishings, household equipment and tools (9% vs 7.4%), recreation and culture (7.6% vs 6.9%), restaurants and hotels (15.5% vs 11.1%), insurance and financial services (30.2% vs 5.3%), and miscellaneous goods and services (11.4% vs 10.2%).

Meanwhile, costs moderated for housing and utilities (22.4% vs 23%) and communication (1.3% vs 1.6%) and it remained unchanged for health (5.2%).

On a monthly basis, consumer prices edged higher to 1.4% in January 2025 from 1.2% in December.