Value of 2003 Euro (Estonia) today

€100 in 2003
€218.65 in 2022

The inflation rate in Estonia between 2003 and today has been 118.65%, which translates into a total increase of €118.65. This means that 100 euro in 2003 are equivalent to 218.65 euro in 2022. In other words, the purchasing power of €100 in 2003 equals €218.65 today. The average annual inflation rate between these periods has been 4.2%.

Inflation timeline in Estonia (2003 - 2022)

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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 2003-2021 72.55%
Cumulative inflation 2003-today 118.65%
Avg. Annual inflation 2003-2021 3.08%
CPI 2003 66.16
CPI 2021 114.16
CPI 2022-10 (latest official data) 142.64
CPI today 144.66

How to calculate today's value of money after inflation?

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 2003 and 2021, use the corresponding CPI values:

Value2021
=Value2003 ×
CPI2021/CPI2003
=€ 100 ×
114.16/66.16
€172.55

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 144.66:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=€ 100 ×
144.66/66.16
€218.65

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 18 years between 2003 and 2021 and the average inflation rate was 3.077%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=€100 × (1 + 0.03077)18
€172.55

Estonia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2003 €1.73 euro in 2021
€5 euro in 2003 €8.63 euro in 2021
€10 euro in 2003 €17.25 euro in 2021
€50 euro in 2003 €86.27 euro in 2021
€100 euro in 2003 €172.55 euro in 2021
€500 euro in 2003 €862.74 euro in 2021
€1,000 euro in 2003 €1,725.48 euro in 2021
€5,000 euro in 2003 €8,627.38 euro in 2021
€10,000 euro in 2003 €17,254.76 euro in 2021
€50,000 euro in 2003 €86,273.82 euro in 2021
€100,000 euro in 2003 €172,547.64 euro in 2021
€500,000 euro in 2003 €862,738.21 euro in 2021
€1,000,000 euro in 2003 €1,725,476.42 euro in 2021
Cumulative inflation From 2003 118.65%
Avg. annual inflation From 2003 4.2%
CPI 2003 66.16
CPI today 144.66

Value of Euro over time (by year)

Period Value
2003 100
2004 103.05
2005 107.25
2006 112.01
2007 119.41
2008 131.78
2009 131.68
2010 135.59
2011 142.34
2012 147.94
2013 152.06
2014 151.9
2015 151.15
2016 151.37
2017 156.55
2018 161.92
2019 165.61
2020 164.88
2021 172.55
2022-10 215.59
Today 218.65

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 |

Other currencies: