Macroeconomic Forecast Mongolia

Consumer price inflation rose by 12.5% y-o-y in June, its highest reading for over a year, and supporting our view that the uptick in prices witnessed through the first half of the year could have further to run. As we have previously noted, the decimation of livestock on the back of a severe winter has seen meat prices spiral, pushing up overall food prices, which in turn make up almost half of the consumer price basket. That said, we expect further monetary tightening by the National Bank of Mongolia to see prices cool through H210, and forecast inflation to come

To read the full article, please choose one of the following options: