BoM says inflation rate will stabilize

The American Chamber of Commerce in Mongolia

2018-03-12 09:23 GMT+8

As forecasted by experts from Bloomberg TV Mongolia's Economists Club, inflation rate may stay close to the Bank of Mongolia’s (BoM) eight percent projection for 2018.

Most analysts predicted that the inflation rate would be at around seven percent in the first quarter and that the annual inflation rate would remain in the single digits. Even if the inflation rate rises, the BoM believes it will stabilize as a result of new monetary policy. As of January 2018, due to the increased taxes on alcohol, tobacco, and fuel, the inflation rate was at 6.9 percent.

According to National Statistics Office, Ulaanbaatar's inflation rate reached its target of eight percent. The BoM believes that due to the improved consistency of copper ore and increased investment in production, expansion in non-mining sectors will intensify and contribute to economic growth.  

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