Madagascar Consumer Price Index

Madagascar’s Consumer Price Index (CPI) has risen from a base of 0.57 in 1964 to 265.04 in 2025, marking an all‑time peak that places the island nation 36th globally among 61 years of recorded data. This dramatic increase reflects persistent inflationary pressures, structural supply constraints, and periodic currency depreciations that have amplified price levels over six decades. The CPI trajectory parallels that of neighboring Mozambique, which recorded a comparable index of 264.85 in the same year, underscoring regional commonalities in price dynamics driven by similar export‑oriented economies and vulnerability to global commodity shocks. While the early post‑independence period featured a trough in the mid‑1960s, the subsequent decades have been characterized by upward momentum, with occasional decelerations during periods of macro‑economic stabilization. Looking ahead, sustained monetary discipline and diversification of agricultural and industrial outputs could moderate the upward trend, but exposure to external price volatility suggests the CPI is likely to remain elevated unless comprehensive policy reforms are enacted.