The annual inflation rate in Mongolia picked up to 15.1% in May of 2022, from 14.4% in April and March. It was the highest reading since November of 2012, amid a generalized increase in prices of products and services. Main upward pressure came from prices of transport (25.6%, the same pace as in April); food & non-alcoholic beverages (18% vs 16.8%); restaurants & hotels (16.8% vs 15%); health (16.1% vs 15.2%); furnishings (15.3% vs 13.8%) and miscellaneous goods & services (15.1% vs 14.1%). On a monthly basis, consumer prices were up 1.4%, following a 2.4% rise in the previous month. source: Mongolbank
Inflation Rate in Mongolia averaged 9.32 percent from 2007 until 2022, 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 June of 2022.
Inflation Rate in Mongolia is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mongolia Inflation Rate is projected to trend around 7.00 percent in 2023 and 6.50 percent in 2024, according to our econometric models.