Value of 2003 Euro (Finland) today

€100 in 2003

€124.13 in 2018

The inflation rate in Finland between 2003 and today has been 24.13%, which translates into a total increase of €24.13. This means that 100 euro in 2003 are equivalent to 124.13 euro in 2018. In other words, the purchasing power of €100 in 2003 equals €124.13 today. The average annual inflation rate has been 1.36%.

Inflation timeline in Finland (2003-2018)

The following chart ilustrates the equivalence of €100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (2003-2018) 22.81%
Total Inflation* 24.13%
Annual inflation avg. (2003-2018) 1.38%
Annual inflation avg.* 1.36%
CPI 2003 82.66
CPI 2018 101.51
CPI today* 102.6
€1 in 2003 €1.23 in 2018

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 15 years between 2003 and 2018 and the average inflation rate has been 1.36%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = €100 * (1 + 0.01)15 = €122.81

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 2003 was 82.66 and the CPI today is 102.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= €100 *
101.51/82.66
= €122.81

Finland inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2003 €1.24 euro today
€5 euro in 2003 €6.21 euro today
€10 euro in 2003 €12.41 euro today
€50 euro in 2003 €62.06 euro today
€100 euro in 2003 €124.13 euro today
€500 euro in 2003 €620.63 euro today
€1,000 euro in 2003 €1,241.26 euro today
€5,000 euro in 2003 €6,206.32 euro today
€10,000 euro in 2003 €12,412.65 euro today
€50,000 euro in 2003 €62,063.25 euro today
€100,000 euro in 2003 €124,126.49 euro today
€500,000 euro in 2003 €620,632.47 euro today
€1,000,000 euro in 2003 €1,241,264.94 euro today

Value of Euro in time (by year)

Period Value
2003 100
2004 100.6
2005 101.03
2006 101.63
2007 103.86
2008 106.6
2009 110.25
2010 109.65
2011 112.77
2012 116.04
2013 118.78
2014 120.69
2015 121.26
2016 120.97
2017 122.21
2018 122.81
Today 124.13