Mongolia has launched a government taskforce to stop price hikes and tackle rising inflation, Prime Minister Zandanshatar Gombojav announced on December 3. The cabinet made this decision after a briefing on recent price increases for goods and services across the country.
The taskforce will be led by Deputy Prime Minister Dorjkhand Togmid. It will coordinate with ministries and agencies to prevent artificial price rises. Authorities emphasized that the taskforce will actively monitor markets and intervene when necessary to protect consumers.
The government aims to lower the inflation rate to 5 percent in the medium term. This target aligns with the Fiscal Framework Statement for the 2026 Consolidated Budget and Budget Assumptions for 2027–2028. Officials said consistent monitoring and timely action are crucial to meet this goal.
Prime Minister Zandanshatar highlighted that stopping price hikes requires enforcement, transparency, and cooperation among government agencies, local authorities, and businesses. He instructed the taskforce to respond quickly to market manipulations.
The initiative builds on previous campaigns such as “Food Revolution” and “Atar-4,” which aim to expand livestock production and strengthen domestic food supply. Officials predict that these programs, combined with closer oversight, will reduce food price inflation in the coming months.
Experts warned that Mongolia faces both domestic and global pressures affecting prices, including supply chain issues and rising import costs. They noted that the taskforce must act decisively and monitor the markets continuously.
The taskforce will report its findings to the cabinet regularly and propose additional measures if inflation risks persist. By taking these steps, Mongolia hopes to stop price hikes and maintain economic stability.
The government emphasized that proactive intervention will protect citizens and secure household purchasing power against rising costs.
