Mongolia - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Mongolia was 217.40 as of 2021. As the graph below shows, over the past 29 years this indicator reached a maximum value of 217.40 in 2021 and a minimum value of 2.29 in 1992.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1992 2.29
1993 8.43
1994 15.80
1995 15.81
1996 23.23
1997 31.72
1998 34.68
1999 37.31
2000 41.63
2001 44.25
2002 44.65
2003 46.94
2004 50.81
2005 57.27
2006 60.19
2007 65.99
2008 84.44
2009 90.87
2010 100.00
2011 108.41
2012 123.95
2013 136.95
2014 153.73
2015 162.54
2016 163.74
2017 170.80
2018 182.44
2019 195.76
2020 202.99
2021 217.40

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices