Inflation rates by country and year

-1.7%11%23.7%36.4%49.1%
-1.7%11%23.7%36.4%49.1%
19654.2%
199549.1%
20258.1%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate8.1%

Behind the curve

Turning points in Madagascar

  1. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    Madagascar imports much of its food and fuel, so the 2007–08 global price surge fed into domestic prices.

    Banky Foiben'i Madagasikara
  2. 2020↓ Downward pressure

    The pandemic recession — Wikipedia (opens in a new tab)

    The pandemic cut activity, easing inflation in 2020.

    Banky Foiben'i Madagasikara
  3. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Higher global food and energy prices lifted Malagasy inflation in 2022.

    Banky Foiben'i Madagasikara

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Madagascar?

The annual inflation rate in Madagascar was 8.1% in 2025, the most recent year in the World Bank dataset. That means prices rose 8.1% on average compared with the year before. Use the chart above to explore Madagascar's full inflation history from 1965 to 2025, and to compare it with any other country.

How inflation in Madagascar has changed

Inflation in Madagascar peaked at 49.1% in 1995 and reached its lowest point at -1.7% in 2003. Averaged across the 61 years of available data (1965–2025), the rate has been 11.0% per year.

Frequently asked questions about inflation in Madagascar

What is the current inflation rate in Madagascar?

The latest available annual figure is 8.1% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Madagascar's statistical office.

What was the highest inflation rate in Madagascar?

The highest annual inflation rate on record is 49.1%, reached in 1995.

What was the lowest inflation rate in Madagascar?

The lowest annual inflation rate on record is -1.7%, recorded in 2003.

Where does the inflation data for Madagascar come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.