# Inflation calculator - Euro (Finland)

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 1956
€1,989.35 in 2023

The inflation rate in Finland between 1956 and 2023 was 1,889.35%, which translates into a total increase of €1,889.35. This means that 100 euro in 1956 are equivalent to 1,989.35 euro in 2023. In other words, the purchasing power of €100 in 1956 equals €1,989.35 in 2023. The average annual inflation rate between these periods was 4.56%.

## Inflation timeline in Finland (1956 - 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 1956 to 2023 1,889.35%
Avg. Annual inflation from 1956 to 2023 4.56%
CPI 1956 6.05
CPI 2023 120.45

## 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 1956 and 2023, use the corresponding CPI values:

Value2023
=Value1956 ×
CPI2023/CPI1956
=€ 100 ×
120.45/6.05
€1,989.35

### 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 67 years between 1956 and 2023 and the average inflation rate was 4.5644%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.045644)67
€1,989.35

## Finland inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1956 €19.89 euro in 2023
€5 euro in 1956 €99.47 euro in 2023
€10 euro in 1956 €198.94 euro in 2023
€50 euro in 1956 €994.68 euro in 2023
€100 euro in 1956 €1,989.35 euro in 2023
€500 euro in 1956 €9,946.76 euro in 2023
€1,000 euro in 1956 €19,893.52 euro in 2023
€5,000 euro in 1956 €99,467.58 euro in 2023
€10,000 euro in 1956 €198,935.16 euro in 2023
€50,000 euro in 1956 €994,675.79 euro in 2023
€100,000 euro in 1956 €1,989,351.59 euro in 2023
€500,000 euro in 1956 €9,946,757.93 euro in 2023
€1,000,000 euro in 1956 €19,893,515.87 euro in 2023
 Cumulative inflation 1956-2023 1,889.35% Avg. annual inflation 1956-2023 4.56% CPI 1956 6.05 CPI 2023 120.45

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

Period Value
1956 100
1957 111.26
1958 117.74
1959 119.44
1960 123.53
1961 125.62
1962 131.12
1963 137.67
1964 151.82
1965 159.32
1966 165.49
1967 174.39
1968 190.42
1969 194.62
1970 199.96
1971 212.91
1972 227.09
1973 251.51
1974 294.11
1975 346.5
1976 396.19
1977 442.92
1978 477.46
1979 513.11
1980 572.61
1981 637.34
1982 698.43
1983 756.87
1984 810.36
1985 852.46
1986 877.47
1987 913.56
1988 960.02
1989 1,023.32
1990 1,086.25
1991 1,133.07
1992 1,166.14
1993 1,191.69
1994 1,204.66
1995 1,214.2
1996 1,221.83
1997 1,236.41
1998 1,253.71
1999 1,268.28
2000 1,306.86
2001 1,340.56
2002 1,361.62
2003 1,373.57
2004 1,376.14
2005 1,384.73
2006 1,406.42
2007 1,441.73
2008 1,500.35
2009 1,500.35
2010 1,518.12
2011 1,569.99
2012 1,614.08
2013 1,637.94
2014 1,654.99
2015 1,651.55
2016 1,657.44
2017 1,669.94
2018 1,688.04
2019 1,705.33
2020 1,710.28
2021 1,747.81
2022 1,872.32
2023 1,989.35

All available years

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

1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 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 |

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