# Inflation calculator - Euro (Estonia)

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 1998
€268.19 in 2023

The inflation rate in Estonia between 1998 and 2023 was 168.19%, which translates into a total increase of €168.19. This means that 100 euro in 1998 are equivalent to 268.19 euro in 2023. In other words, the purchasing power of €100 in 1998 equals €268.19 in 2023. The average annual inflation rate between these periods was 4.02%.

## Inflation timeline in Estonia (1998 - 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 1998 to 2023 168.19%
Avg. Annual inflation from 1998 to 2023 4.02%
CPI 1998 55.48
CPI 2023 148.79

## 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 1998 and 2023, use the corresponding CPI values:

Value2023
=Value1998 ×
CPI2023/CPI1998
=€ 100 ×
148.79/55.48
€268.19

### 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 25 years between 1998 and 2023 and the average inflation rate was 4.0249%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.040249)25
€268.19

## Estonia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €2.68 euro in 2023
€5 euro in 1998 €13.41 euro in 2023
€10 euro in 1998 €26.82 euro in 2023
€50 euro in 1998 €134.09 euro in 2023
€100 euro in 1998 €268.19 euro in 2023
€500 euro in 1998 €1,340.93 euro in 2023
€1,000 euro in 1998 €2,681.86 euro in 2023
€5,000 euro in 1998 €13,409.31 euro in 2023
€10,000 euro in 1998 €26,818.63 euro in 2023
€50,000 euro in 1998 €134,093.13 euro in 2023
€100,000 euro in 1998 €268,186.25 euro in 2023
€500,000 euro in 1998 €1,340,931.27 euro in 2023
€1,000,000 euro in 1998 €2,681,862.53 euro in 2023
 Cumulative inflation 1998-2023 168.19% Avg. annual inflation 1998-2023 4.02% CPI 1998 55.48 CPI 2023 148.79

### Value of Euro over time (by year)

Period Value
1998 100
1999 103.3
2000 107.45
2001 113.62
2002 117.68
2003 119.25
2004 122.89
2005 127.9
2006 133.58
2007 142.4
2008 157.15
2009 157.03
2010 161.69
2011 169.75
2012 176.43
2013 181.33
2014 181.14
2015 180.25
2016 180.52
2017 186.68
2018 193.1
2019 197.5
2020 196.62
2021 205.77
2022 245.68
2023 268.19

All available years

Today's value of euro (Estonia) by year:

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: