Inflation Rate in Mongolia increased to 6.60 percent in June from 6.20 percent in May of 2021. source: Mongolbank

Inflation Rate in Mongolia averaged 9.15 percent from 2007 until 2021, 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 July of 2021.

Inflation Rate in Mongolia is expected to be 5.90 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 4.50 in 12 months time. In the long-term, the Mongolia Inflation Rate is projected to trend around 4.50 percent in 2022, according to our econometric models.

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Mongolia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
6.60 6.20 34.20 -0.20 2007 - 2021 percent Monthly
2015=100, NSA

Calendar GMT Actual Previous Consensus TEForecast
2021-04-20 09:00 AM Mar 2.5% 2.6% 2.5%
2021-05-24 09:00 AM Apr 5.6% 2.5% 3.4%
2021-06-22 09:00 AM May 6.2% 5.6% 3.8%
2021-07-20 09:00 AM Jun 6.6% 6.2% 6.5%
2021-08-20 09:00 AM Jul 6.6%
2021-09-15 09:00 AM Aug
2021-10-15 09:00 AM Sep
2021-11-17 09:00 AM Oct

News Stream
Mongolia Inflation Rate Lowest since 2017
Annual inflation rate in Mongolia slowed to 2.1 percent in August of 2020 from 3.4 percent in July, reaching the lowest since January of 2017. Prices slowed for food and non-alcoholic beverages (4.5 percent vs 7.5 percent in July); housing and utilities (2 percent vs 2.5 percent); education services (0.3 percent vs 9.7 percent); and restaurants and hotels (4.3 percent vs 6.4 percent). On a monthly basis, consumer prices declined 1 percent.
Mongolia Inflation Rate Rises to 3.4% in July
The annual inflation rate in Mongolia edged up to 3.4 percent in July of 2020 from 2.8 percent in the previous month. Main upward pressure came from prices of food & non-alcoholic beverages (7.5 percent vs 5.3 percent in June); education (9.7 percent, the same pace as in June); alcohol & tobacco (4.6 percent, the same pace as in June) and miscellaneous goods & services (4.3 percent vs 4.2 percent). In addition, transport costs decreased at a softer pace (-6.3 percent vs -7.2 percent). On a monthly basis, consumer prices went up 0.5 percent, the most since February, after increasing 0.3 percent in the prior month.

Mongolia Inflation Rate
In Mongolia, the most important categories in the consumer price index are food and non-alcoholic beverages (39.7 percent of the total weight); clothing, footwear (15.3 percent) and housing, water, electricity, gas and other fuels (10.8 percent). The index also includes: transports (9.0 percent); furnishings, household equipment, and tools (5.6 percent); education (5.4 percent); recreation and culture (3.1 percent); communication (2.9 percent); alcoholic beverages and tobacco (2.8 percent); miscellaneous goods and services (2.7 percent); health (1.8 percent) and restaurants and hotels (1.0 percent).