Inflation Madagascar 2021
Average inflation: 5.8%
Current Inflation
Inflation is very high at 5.8%, far above the ECB target.
Peak and Trough
The highest inflation was in August at 6.4%. The lowest inflation was in January at 5.0%.
- Highest month
- August: 6.4%
- Lowest month
- January: 5.0%
- Difference
- 1.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 2.5%. The lowest price increase was in Energy with an average of 2.5%.
- Highest increase
- Energy: 2.5%
- Lowest increase
- Energy: 2.5%
Historical Context
Current inflation is 0.8% lower than the 5-year average of 6.6%.
- 5-year average
- 6.6%
- 10-year average
- 6.5%
- All-time high (2018)
- 8.6%
- All-time low (2020)
- 4.2%
Trend
Inflation has remained relatively stable. Compared to 2020, the difference is minimal (+1.6 percentage point).
- Change vs. previous year
- +1.6 percentage points
- Largest monthly swing
- August: +2.4 percentage points
ECB Target
Inflation is 3.8% 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 €105.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 5.0% | +1.1 |
| February | 5.0% | +1.2 |
| March | 5.1% | +0.9 |
| April | 5.4% | +0.9 |
| May | 5.8% | +1.5 |
| June | 6.0% | +2.1 |
| July | 6.2% | +2.2 |
| August | 6.4% | +2.4 |
| September | 6.3% | +2.0 |
| October | 6.1% | +1.7 |
| November | 6.1% | +1.7 |
| December | 6.1% | +1.5 |
| Average | 5.8% |
Data source
Data from WorldBank. Last updated: 06/01/2026.