Inflation fell to 12.3% in January from 13.2% in December, remaining above the Central Bank’s 4.0–8.0% target range. In December, the Central Bank hiked the policy rate from 12.00% to 13.00% to tame inflation. Inflation is seen dipping this year but will remain in double digits nonetheless, propped up by a recovery in tourist arrivals and January’s minimum wage hike.
Mongolia Inflation (CPI, ann. var. %, aop) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 4.3 | 6.8 | 7.3 | 3.7 | 7.0 |