Inflation Madagascar 2003
Average inflation: -1.4%
Inflation in 2003
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
Historical Context
Inflation is 9.9 percentage points 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
Over the period 2001-2003, inflation shows a downward trend. Compared to 2002, inflation has fallen by 18.0 percentage points.
- Change vs. previous year
- -18.0 percentage points
- Largest monthly swing
- May: -34.6 percentage points
ECB Target
Inflation is 3.4 percentage points 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 MGA 100 this year will cost approximately MGA 99 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.