PRICE INDEX – 12% price increase in April 2023

The price level increased by 12% at the end of April 2023 compared to the same date in 2022, according to the latest figures from the National Institute of Statistics (Instat). The price of transport shows a significant increase of 23.3%, that of energy 14.1% and that of basic necessities (PPN) 11.3%. Indeed, for the year 2022, the amount of Malagasy imports in air or space navigation amounted to 2,287,000 dollars, for 6,043,000 dollars for maritime or river navigation. The price of rice also increased by 12%, that of PPN by 11.33% and that of energy by 14.1% year-on-year in April 2023. According to the origin of the products, the prices of “local products ” show an increase of 11.52%, the costs of “semi-imported products” increased the most, ie by nearly 20%, and those of “imported products” by 10.31%, reports the Instat. In November 2022, according to the production sector, the prices of “industrial manufactured products” increased by 12.57% and “unprocessed food products” by 17.40%. The annual inflation rate for the year 2022 is 8.2% and according to the latest forecast, that of 2023 reaches 9.5%.