ULAN BATOR, July 17 (Xinhua) -- Mongolia's inflation dropped to 5.1 percent in June, marking the lowest rate since March 2021, when it stood at 2.5 percent, data from the country's National Statistics Office showed Wednesday.

The statistical agency reported a 5.5 percentage point decrease in inflation compared to the same period 2023.

Experts from the agency attributed the slowdown primarily to a substantial increase in foreign exchange reserves and the stable exchange rate of the national currency, the Tugrik.

Mongolia experienced a peak inflation rate of 16.4 percent in July 2022, driven by higher import prices, but inflation has steadily decreased since then. Enditem

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