Inflation Madagascar 2022
Average inflation: 8.2%
Current Inflation
Inflation is very high at 8.2%, far above the ECB target.
Peak and Trough
The highest inflation was in September at 11.4%. The lowest inflation was in January at 6.0%.
- Highest month
- September: 11.4%
- Lowest month
- January: 6.0%
- Difference
- 5.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 2.9%. The lowest price increase was in Energy with an average of 2.9%.
- Highest increase
- Energy: 2.9%
- Lowest increase
- Energy: 2.9%
Historical Context
Current inflation is 1.7% higher than the 5-year average of 6.5%.
- 5-year average
- 6.5%
- 10-year average
- 6.6%
- All-time high (2005)
- 18.8%
- All-time low (2003)
- -1.4%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +2.4 percentage point.
- Change vs. previous year
- +2.4 percentage points
- Largest monthly swing
- September: +5.1 percentage points
ECB Target
Inflation is 6.2% 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 €108.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 6.0% | +1.0 |
| February | 6.3% | +1.3 |
| March | 6.3% | +1.2 |
| April | 6.2% | +0.8 |
| May | 6.4% | +0.6 |
| June | 6.9% | +0.9 |
| July | 9.8% | +3.6 |
| August | 11.0% | +4.6 |
| September | 11.4% | +5.1 |
| October | 7.4% | +1.3 |
| November | 9.2% | +3.1 |
| December | 10.9% | +4.8 |
| Average | 8.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.