Value of 1998 Euro (Finland) today

€100 in 1998
€147.18 in 2022

The inflation rate in Finland between 1998 and today has been 47.18%, which translates into a total increase of €47.18. This means that 100 euro in 1998 are equivalent to 147.18 euro in 2022. In other words, the purchasing power of €100 in 1998 equals €147.18 today. The average annual inflation rate between these periods has been 1.62%.

Inflation timeline in Finland (1998 - 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 1998-2021 39.41%
Cumulative inflation 1998-today 47.18%
Avg. Annual inflation 1998-2021 1.46%
CPI 1998 75.91
CPI 2021 105.82
CPI 2022-04 (latest official data) 111.3
CPI today 111.72

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=€ 100 ×
105.82/75.91
€139.41

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 111.72:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=€ 100 ×
111.72/75.91
€147.18

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 23 years between 1998 and 2021 and the average inflation rate was 1.4551%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=€100 × (1 + 0.014551)23
€139.41

Finland inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €1.39 euro in 2021
€5 euro in 1998 €6.97 euro in 2021
€10 euro in 1998 €13.94 euro in 2021
€50 euro in 1998 €69.71 euro in 2021
€100 euro in 1998 €139.41 euro in 2021
€500 euro in 1998 €697.06 euro in 2021
€1,000 euro in 1998 €1,394.11 euro in 2021
€5,000 euro in 1998 €6,970.57 euro in 2021
€10,000 euro in 1998 €13,941.14 euro in 2021
€50,000 euro in 1998 €69,705.71 euro in 2021
€100,000 euro in 1998 €139,411.41 euro in 2021
€500,000 euro in 1998 €697,057.06 euro in 2021
€1,000,000 euro in 1998 €1,394,114.13 euro in 2021
Cumulative inflation From 1998 47.18%
Avg. annual inflation From 1998 1.62%
CPI 1998 75.91
CPI today 111.72

Value of Euro over time (by year)

Period Value
1998 100
1999 101.16
2000 104.24
2001 106.93
2002 108.61
2003 109.56
2004 109.77
2005 110.45
2006 112.18
2007 115
2008 119.67
2009 119.67
2010 121.09
2011 125.23
2012 128.74
2013 130.65
2014 132.01
2015 131.73
2016 132.2
2017 133.2
2018 134.64
2019 136.02
2020 136.42
2021 139.41
2022-04 146.63
Today 147.18

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 |

Other currencies: