Inflation calculator - Euro

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

€100 in 1991
€200.34 in 2023

The inflation rate in the Eurozone between 1991 and 2023 was 100.34%, which translates into a total increase of €100.34. This means that 100 euro in 1991 are equivalent to 200.34 euro in 2023. In other words, the purchasing power of €100 in 1991 equals €200.34 in 2023. The average annual inflation rate between these periods was 2.2%.

Inflation timeline in the Eurozone (1991 - 2023)

The following chart depicts the equivalence of €100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (EUR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 1991 to 2023 100.34%
Avg. Annual inflation from 1991 to 2023 2.2%
CPI 1991 61.48
CPI 2023 123.17

How to calculate the time value of money with inflation data?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1991 and 2023, use the corresponding CPI values:

Value2023
=Value1991 ×
CPI2023/CPI1991
=€ 100 ×
123.17/61.48
€200.34

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are €100 worth today. There are 32 years between 1991 and 2023 and the average inflation rate was 2.1951%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.021951)32
€200.34

Eurozone inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1991 €2 euro in 2023
€5 euro in 1991 €10.02 euro in 2023
€10 euro in 1991 €20.03 euro in 2023
€50 euro in 1991 €100.17 euro in 2023
€100 euro in 1991 €200.34 euro in 2023
€500 euro in 1991 €1,001.69 euro in 2023
€1,000 euro in 1991 €2,003.38 euro in 2023
€5,000 euro in 1991 €10,016.9 euro in 2023
€10,000 euro in 1991 €20,033.8 euro in 2023
€50,000 euro in 1991 €100,168.98 euro in 2023
€100,000 euro in 1991 €200,337.96 euro in 2023
€500,000 euro in 1991 €1,001,689.79 euro in 2023
€1,000,000 euro in 1991 €2,003,379.57 euro in 2023
Cumulative inflation 1991-2023 100.34%
Avg. annual inflation 1991-2023 2.2%
CPI 1991 61.48
CPI 2023 123.17

Value of Euro over time (by year)

Period Value
1991 100
1992 103.77
1993 107.28
1994 110.32
1995 113.13
1996 115.79
1997 117.76
1998 119.2
1999 120.6
2000 123.24
2001 126.23
2002 129.1
2003 131.83
2004 134.71
2005 137.67
2006 140.71
2007 143.77
2008 148.58
2009 149.09
2010 151.48
2011 155.59
2012 159.5
2013 161.66
2014 162.34
2015 162.65
2016 163.03
2017 165.53
2018 168.43
2019 170.44
2020 170.87
2021 175.29
2022 190.03
2023 200.34

All available years

Today's value of euro by year:

1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

Other currencies: