Inflation in Mongolia
I’m getting nervous about the runaway inflation in Mongolia. Their economy seems to be in complete turmoil. This article says that “Mongol Bank’s inflation measurements had it at 15.1 percent in December 2007, but in the year to January has it at 17.5 percent. The inflation rate rose another two points in January of this year, despite the government establishing a council to stabilize consumer prices.”
We are raising our support based on February 2007 prices. Real estate has doubled since then, and vehicles are way up. I hope we don’t arrive on the scene only to discover we can’t even live at poverty level in a developing country.