Mongolia's inflation rate climbs to 9.6 pct in January

Mongolia's inflation rate, as measured by the Consumer Price Index (CPI), rose to 9.6 percent in January, up from 9.0 percent in December 2024, local media reported on Thursday, citing official data by the country's National Statistics Office (NSO).

This represents a 2.0 percentage-point rise compared to the same period last year, the NSO noted. The increase in inflation was primarily driven by higher prices for imported goods, particularly food products, according to the statistical agency.

Mongolia's consumer goods and services basket comprises 410 items, with over half of them being imported, the NSO said.

Despite the recent inflationary pressures, the government remains optimistic about the country's economic outlook and has forecast an inflation rate of around 7.2 percent for 2025.

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