Inflation Madagascar 2004
Average inflation: 14.1%
Current Inflation
Inflation is very high at 14.1%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 27.3%. The lowest inflation was in January at -0.3%.
- Highest month
- December: 27.3%
- Lowest month
- January: -0.3%
- Difference
- 27.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 14.2%. The lowest price increase was in Energy with an average of 14.2%.
- Highest increase
- Energy: 14.2%
- Lowest increase
- Energy: 14.2%
Historical Context
Current inflation is 4.5% higher than the 5-year average of 9.6%.
- 5-year average
- 9.6%
- 10-year average
- 9.6%
- All-time high (2002)
- 16.6%
- All-time low (2003)
- -1.4%
Trend
Inflation shows a downward trend. Compared to 2003, inflation has fallen by +15.5 percentage point.
- Change vs. previous year
- +15.5 percentage points
- Largest monthly swing
- November: +28.2 percentage points
ECB Target
Inflation is 12.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €114.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | -0.3% | -12.5 |
| February | -0.3% | -10.8 |
| March | 2.0% | -0.6 |
| April | 6.5% | +12.0 |
| May | 9.4% | +17.5 |
| June | 13.5% | +21.9 |
| July | 17.9% | +23.5 |
| August | 20.1% | +24.2 |
| September | 22.2% | +25.9 |
| October | 24.2% | +27.8 |
| November | 26.3% | +28.2 |
| December | 27.3% | +28.1 |
| Average | 14.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.