Inflation Madagascar 2019
Average inflation: 5.6%
Inflation in 2019
Inflation is very high at 5.6%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 6.6%. The lowest inflation was in December at 3.9%.
- Highest month
- January: 6.6%
- Lowest month
- December: 3.9%
- Difference
- 2.7 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 1.7 percentage points lower than the 5-year average of 7.3%.
- 5-year average
- 7.3%
- 10-year average
- 7.3%
- All-time high (2005)
- 18.8%
- All-time low (2003)
- -1.4%
Trend
Over the period 2017-2019, inflation shows a downward trend. Compared to 2018, inflation has fallen by 3.0 percentage points.
- Change vs. previous year
- -3.0 percentage points
- Largest monthly swing
- January: -3.7 percentage points
ECB Target
Inflation is 3.6 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 106 next year at this inflation rate.
Multi-year trend
Monthly figures 2019
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2018 |
|---|---|---|
| January | 6.6% | -3.7 |
| February | 6.6% | -3.1 |
| March | 6.1% | -2.9 |
| April | 5.8% | -2.7 |
| May | 6.0% | -2.3 |
| June | 6.0% | -2.5 |
| July | 5.6% | -3.1 |
| August | 5.5% | -3.3 |
| September | 5.3% | -3.5 |
| October | 5.2% | -3.3 |
| November | 4.8% | -2.4 |
| December | 3.9% | -3.1 |
| Average | 5.6% |
Data source
Data from WorldBank. Last updated: 06/01/2026.