ULAN BATOR, April 13 (Xinhua) -- Mongolia's annual inflation rate accelerated to 9.1 percent in March, local media reported on Sunday, citing the National Statistics Office (NSO).

This figure reflects a 2.9-percentage point increase compared to the same period last year and a 0.3-percentage point increase from the previous month, the NSO said in a statement.

Rising energy costs have caused concern for Mongolia's central bank, which has raised interest rates to 12 percent in March in a bid to battle inflation.

Mongolia's central bank targets an inflation rate within a range of 5 percent (+/- 2.0 percentage points) from 2027 to support macroeconomic and financial sector stability in the medium-term.

Mongolia's economy in 2025 is expected to grow by 6.6 percent.

According to the Asian Development Bank, economic growth in Mongolia will be mainly driven by increased mining output and services and supported by robust domestic demand, infrastructure investment, and a gradual recovery in agriculture. Enditem

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