Inflation Madagascar 2003
Average inflation: -1.4%
Current Inflation
There is deflation with consumer prices declining by 1.4%.
Peak and Trough
The highest inflation was in January at 12.2%. The lowest inflation was in June at -8.4%.
- Highest month
- January: 12.2%
- Lowest month
- June: -8.4%
- Difference
- 20.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 3.0%. The lowest price increase was in Energy with an average of 3.0%.
- Highest increase
- Energy: 3.0%
- Lowest increase
- Energy: 3.0%
Historical Context
Current inflation is 9.9% lower than the 5-year average of 8.5%.
- 5-year average
- 8.5%
- 10-year average
- 8.5%
- All-time high (2002)
- 16.6%
- All-time low (2003)
- -1.4%
Trend
Inflation shows a downward trend. Compared to 2002, inflation has fallen by +18.0 percentage point.
- Change vs. previous year
- -18.0 percentage points
- Largest monthly swing
- May: -34.6 percentage points
ECB Target
Inflation is 3.4% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
Due to deflation, purchasing power increases. Money becomes more valuable instead of less.
What you could buy for €100 this year will cost approximately €98.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 12.2% | +7.7 |
| February | 10.5% | +6.4 |
| March | 2.6% | -10.6 |
| April | -5.5% | -29.2 |
| May | -8.1% | -34.6 |
| June | -8.4% | -34.6 |
| July | -5.6% | -26.6 |
| August | -4.1% | -22.6 |
| September | -3.7% | -20.9 |
| October | -3.6% | -19.6 |
| November | -1.9% | -16.5 |
| December | -0.8% | -14.3 |
| Average | -1.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.