ULAN BATOR, Aug. 12 (Xinhua) -- Mongolia's inflation stood at 5.5 percent in July, as measured by the consumer price index, data from the National Statistics Office showed Monday.

The data further revealed that the consumer price index for July decreased by 3.7 percentage points compared to the same period last year.

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

Experts from the statistical agency attribute the recent slowdown primarily to a significant increase in foreign exchange reserves and the stable exchange rate of the national currency, the Tugrik. Enditem

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