Ulaanbaatar
Inflation rate stands at 2.4 percent in January
Economy
Ulaanbaatar/MONTSAME/. In January 2021, the consumer price
index at the national level rose by 1.0% from the previous month and increased
by 2.4% from the same period of the previous year.
The 2.4% increase in the CPI from the same period of the
previous year was mainly contributed by 8.4% rises in prices of food and
non-alcoholic beverages group (non-alcoholic beverages by 5.1%), 4.2% rises in
prices of alcoholic beverages and tobacco group, 3.4% rises in prices of
clothing, cloth and footwear group, 3.8% rises in prices of medicine and
medical service group, though the prices of housing, water, electricity and
fuels group dropped by 6.3% (electricity, gas and other fuels decreased by 12.3%),
and prices of transport group decreased by 5.2%.
The 1.0% increase in CPI from the previous month was mainly due to a 1.5% increase in prices of housing, water, electricity, and fuels group (electricity, gas and other fuels by 2.3%), 2.8% increase in prices of food and non-alcoholic beverages group (meat and meat products by 4.4%), 0.1% increase in prices of clothing, cloth and footwear group, and 0.3% increase in prices of medicine and medical service group.
The inflation rate was 6.9% in January 2018, 7.3% in January 2019, 5.6% in January 2020, and 2.4% in January 2021, with a decrease of 3.2 percentage points from the same period of the previous year.
In terms of group contribution of price changes of goods and
services groups to 2.4% inflation rate in January 2021, 2.2 units (91.7%) were
contributed from the change in prices of food and non-alcoholic beverages
group.
The prices of 373 items were collected for the consumer
goods and services basket at the national level, whilst the prices of 344 items
were collected for the goods and services basket in Ulaanbaatar. From 373 items
of goods and services, 200 items are imported goods and services, which account
for 45.5% of the total weight.
In January 2021, 37.5% of the 2.4% inflation rate was mainly
contributed by the increase in prices of imported goods and services, while the
contribution of prices of imported goods and services was the same as January
2020.
Source: National Statistics Office
