National Consumer Price Index Increased by 1.0 Percent

Economy
lebuyana@gmail.com
2023-01-31 13:48:16

Ulaanbaatar, January 31, /MONTSAME/. According to the National Statistics Office, the consumer price index at the national level increased by 1.0% from the previous month and by 13.2% from the same period of the previous year as of December.


The 13.2% increase in the consumer price index from the same period of the previous year was mainly contributed by 15.4% increase in the prices of food and non-alcoholic beverages group (24.2% increase in prices of non-alcoholic beverages), 8.1% increase in prices of alcoholic beverages and tobacco group, 18.5% increase in prices of clothing, cloth and footwear group, 15.4% increase in prices of housing, water, electricity and fuels group, 17.4% increase in prices of medicine and medical service group and 6.2% increase in prices of transport group. The 1.0% increase in CPI from the previous month has mainly resulted from 1.9% increase in the prices of food and non-alcoholic beverages group, 0.6% increase in prices of alcoholic beverages and tobacco group, 1.2% increase in the prices of clothing, cloth and footwear group, 0.4% increase in prices of transport group.


The inflation rate was 13.8% in December 2021 and reached 13.2% in December 2022, showing a decrease of 0.6 percentage points from the same period of the previous year. The rate of inflation, or the price of consumer goods and services, reached 13.2% inflation rate in December 2022, in terms of the contribution of price changes of goods and services groups, 4.1 units (31.1%) were due to the changes in prices of food and nonalcoholic beverages group.


The price of 410 items was collected for the consumer goods and services basket at the national level and prices of 404 items were collected for the goods and services basket in Ulaanbaatar. Out of 410 selected items of goods and services, 221 items were imported goods and services, which accounts for 46.0% of the total weight. Compared to the same period of the previous year, CPI for food items increased by 20.3% in December 2021 and 15.1% in December 2022, where the growth rate decreased by 5.2 percentage points. CPI for non-food items increased by 11.5% in December 2021, while CPI for non-food items increased by 12.5% in December 2022. The growth rate increased by 1.0 percentage points.


The 12.9% CPI increase in Ulaanbaatar from the same period of the previous year has mainly resulted from 12.8% increase in prices of food and non-alcoholic beverages group, 8.8% increase in prices of alcoholic beverages and tobacco group, 22.0% increase in prices of clothing, cloth and footwear group, 21.3% increase in prices of housing, water, electricity and fuels group, 23.2% increase in prices of medicine and medical service group, 3.5% increase in prices of transport group, 10.7% increase in education group and 12.5% increase in prices of food and accommodation service group.