NATIONAL CONSUMER PRICE INDEX INCREASED BY 0.4 PERCENT FROM THE PREVIOUS MONTH

In August 2021, consumer price index (CPI) at the national level rose by 0.4% from the previous month, by 8.9% from the end of the previous year and by 8.9% from the same period of the previous year.

 

The 8.9% increase in consumer price index from the same period of previous year was mainly contributed by 13.7% increase in prices of food and non-alcoholic beverages group (meat and meat products by 16.8% non-alcoholic beverages by 8.6%), 3.8% increase in prices of alcoholic beverages and tobacco group, 4.0% increase in prices of clothing, cloth and footwear group, prices of housing, water, electricity and fuels group increased by 7.0% (electricity, gas and other fuels increased by 8.1%), 6.4% increase in prices of medicine and medical service group and 16.3% increase in prices of transport group.

 

The 0.4% increase in CPI from the previous month was mainly resulted from 2.2% decrease in prices of food and non-alcoholic beverages group (meat and meat products by 6.1%), 0.5% increase in prices of alcoholic beverages and tobacco group, 0.9% increase in prices of medicine and medical service group and 2.7% increase in prices of transport group.

 

The inflation rate was 6.0% in August 2018, 8.9% in August 2019, 2.1% in August 2020 and reached 8.9% in August 2021, increased by 6.8 percentage points from the same period of previous year.

 

In terms of contribution of price changes of goods and services groups to 8.9% inflation rate in August 2021, 3.7 units (41.6%) were contributed from changes in prices of food and non-alcoholic beverages group.

 

The price of 373 items was collected for the consumer goods and services basket at the national level and prices of 344 items collected for goods and services basket in Ulaanbaatar. Out of 373 selected items of goods and services, 200 items were imported goods and services, which accounts for 45.5% of the total weight.

 

 In August 2021, 49.4% of 8.9% inflation rate was mainly contributed by an increase in prices of imported goods and services, reported the National Statistics Office of Mongolia.

 

 

Source: https://www.montsame.mn/en/read/276524