Inflation Madagascar 2018
Average inflation: 8.6%
Inflation in 2018
Inflation is very high at 8.6%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 10.3%. The lowest inflation was in December at 7.0%.
- Highest month
- January: 10.3%
- Lowest month
- December: 7.0%
- Difference
- 3.3 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 1.2 percentage points higher than the 5-year average of 7.4%.
- 5-year average
- 7.4%
- 10-year average
- 7.6%
- All-time high (2005)
- 18.8%
- All-time low (2003)
- -1.4%
Trend
Over the period 2016-2018, inflation shows an upward trend. Compared to 2017, inflation has remained unchanged.
- Change vs. previous year
- +0.0 percentage points
- Largest monthly swing
- January: +4.4 percentage points
ECB Target
Inflation is 6.6 percentage points 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 MGA 100 this year will cost approximately MGA 109 next year at this inflation rate.
Multi-year trend
Monthly figures 2018
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2017 |
|---|---|---|
| January | 10.3% | +4.4 |
| February | 9.7% | +3.1 |
| March | 9.0% | +1.1 |
| April | 8.5% | -0.2 |
| May | 8.3% | -0.5 |
| June | 8.5% | -0.3 |
| July | 8.7% | +0.2 |
| August | 8.8% | +0.1 |
| September | 8.8% | 0.0 |
| October | 8.5% | -0.7 |
| November | 7.2% | -3.5 |
| December | 7.0% | -3.6 |
| Average | 8.6% |
Data source
Data from WorldBank. Last updated: 06/01/2026.