Inflation in Mongolia Falls by 5.6 Percent

Ulaanbaatar, June 18, 2024 /MONTSAME/. Mongolia's National Statistics Office (NSO) reported the country's socio-economic performance for the first five months of 2024. Inflation dipped to 5.7 percent during this period, reflecting a 5.6 percent decrease compared to the same period in 2023.

Batsukh Delgertsogt, the Chief Statistician of the NSO's Price Statistics Division, stated, "Milk and dairy products saw price declines due to seasonal factors, while vegetables became cheaper due to improved transportation. Imported goods continue to have a significant impact on inflation, accounting for approximately 34.8 percent."

The price of the food contributes to inflation with 2.0 units or 34.7 percent. Breaking down the prices of goods and products by group:

• The cost of educational services increased by 16.8 percent, maintaining the same level as the previous year.
• The price of medicine, medicinal products, and medical services increased by 7 percent.
• The price of food, water, and beverages increased by 6.7 percent.
• The prices of clothes, shoes, and textiles increased by 5.8 percent.