Value of 1989 Euro (Finland) today

€100 in 1989
€198.52 in 2024

The inflation rate in Finland between 1989 and today has been 98.52%, which translates into a total increase of €98.52. This means that 100 euro in 1989 are equivalent to 198.52 euro in 2024. In other words, the purchasing power of €100 in 1989 equals €198.52 today. The average annual inflation rate between these periods has been 1.98%.

Inflation timeline in Finland (1989 - 2024)

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 1989-2023 94.4%
Cumulative inflation 1989-today 98.52%
Avg. Annual inflation 1989-2023 1.97%
CPI 1989 61.96
CPI 2023 120.45
CPI 2024-02 (latest official data) 122.5
CPI today 123

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 1989 and 2023, use the corresponding CPI values:

Value2023
=Value1989 ×
CPI2023/CPI1989
=€ 100 ×
120.45/61.96
€194.4

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 123:

Valuetoday
=Value1989 ×
CPItoday/CPI1989
=€ 100 ×
123/61.96
€198.52

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 34 years between 1989 and 2023 and the average inflation rate was 1.9744%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.019744)34
€194.4

Finland inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1989 €1.94 euro in 2023
€5 euro in 1989 €9.72 euro in 2023
€10 euro in 1989 €19.44 euro in 2023
€50 euro in 1989 €97.2 euro in 2023
€100 euro in 1989 €194.4 euro in 2023
€500 euro in 1989 €972.01 euro in 2023
€1,000 euro in 1989 €1,944.02 euro in 2023
€5,000 euro in 1989 €9,720.11 euro in 2023
€10,000 euro in 1989 €19,440.21 euro in 2023
€50,000 euro in 1989 €97,201.05 euro in 2023
€100,000 euro in 1989 €194,402.1 euro in 2023
€500,000 euro in 1989 €972,010.52 euro in 2023
€1,000,000 euro in 1989 €1,944,021.04 euro in 2023
Cumulative inflation From 1989 98.52%
Avg. annual inflation From 1989 1.98%
CPI 1989 61.96
CPI today 123

Value of Euro over time (by year)

Period Value
1989 100
1990 106.15
1991 110.72
1992 113.96
1993 116.45
1994 117.72
1995 118.65
1996 119.4
1997 120.82
1998 122.51
1999 123.94
2000 127.71
2001 131
2002 133.06
2003 134.23
2004 134.48
2005 135.32
2006 137.44
2007 140.89
2008 146.62
2009 146.62
2010 148.35
2011 153.42
2012 157.73
2013 160.06
2014 161.73
2015 161.39
2016 161.97
2017 163.19
2018 164.96
2019 166.65
2020 167.13
2021 170.8
2022 182.97
2023 194.4
2024-02 197.71
Today 198.52

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 |

Other currencies: