In October 2025, Mongolia’s annual inflation rate rose to 9.2%, up from 9% in September, marking the highest reading since February. The increase was largely driven by faster price growth in food and non-alcoholic beverages, which jumped 11.9% compared to 10.6% in September, as well as in recreation and culture (5.5% vs 5.3%) and miscellaneous goods and services (8.9% vs 8.1%).

Some sectors saw prices remain steady, including alcoholic beverages and tobacco (5.3%), furnishings and household equipment (7%), transport (4.1%), insurance and financial services (15.3%), and education (12.8%). Conversely, inflation moderated for clothing and footwear (6.7% vs 7.9%), health (5.9% vs 6.5%), housing and utilities (19.3% vs 19.4%), communication (1.4% vs 1.5%), and restaurants and hotels (11.3% vs 11.4%).

On a monthly basis, consumer prices increased 0.6% in October, up from 0.2% in September, reflecting ongoing upward pressure on key goods and services.

This data suggests that while inflationary pressures remain elevated, certain sectors are showing signs of moderation, indicating a mixed but persistent inflation environment in Mongolia.