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Mongolia's inflation slows to 7 pct in February

ULAN BATOR
2024-03-13 13:38

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ULAN BATOR, March 13 (Xinhua) -- Mongolia's inflation, as measured by the consumer price index, eased to 7.0 percent in February, data from the country's National Statistics Office (NSO) showed Wednesday.

The rate was down by 5.2 percentage points compared to the same period of 2023, the NSO said.

The slowdown was mainly due to a significant increase in forex reserves and the stable exchange rate of the national currency, the Tugrik, according to experts of the statistical agency.

The Asian country aims to stabilize inflation around the target rate of 6 percent in the medium term.
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