Current inflation Madagasikara 7.4%
December 2023
Current Inflation
Inflation is very high at 7.4%, far above the ECB target.
Historical Context
Inflation is 0.7 percentage points higher than the 5-year average of 6.7%.
- 5-year average
- 6.7%
- 10-year average
- 7%
- All-time high (2005)
- 18.8%
- All-time low (2003)
- -1.4%
Trend
Over the period 2021-2023, inflation shows an upward trend. Compared to 2022, average inflation in 2023 through December has risen by 1.7 percentage points.
ECB Target
Inflation is 5.4 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 107 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- Average 2023 through December
- 9.9%
- Last year
- 8.2%
- 5-year average
- 6.7%
- All-time high (2005)
- 18.8%