Value of 1960 Euro (Greece) today

€100 in 1960

€9,185.87 today

The inflation rate in Greece between 1960 and today has been 9,085.87%, which translates into a total increase of €9,085.87. This means that 100 euro in 1960 are equivalent to 9,185.87 euro in 2018. In other words, the purchasing power of €100 in 1960 equals €9,185.87 today. The average annual inflation rate has been 7.96%.

Inflation timeline in Greece (1960-2019)

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 (1960-2018) 9,043.9%
Total Inflation* 9,085.87%
Annual inflation avg. (1960-2018) 8.1%
Annual inflation avg.* 7.96%
CPI 1960 1.1
CPI 2018 100.76
CPI today* 101.22
€1 in 1960 €91.44 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 58 years between 1960 and 2018 and the average inflation rate has been 7.9626%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = €100 * (1 + 0.08)58 = €9,143.9

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 1960 was 1.1 and the CPI today is 101.22. Therefore,

Final value = Initial value *
CPI final/CPI initial
= €100 *
100.76/1.1
= €9,143.9

Greece inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1960 €91.86 euro today
€5 euro in 1960 €459.29 euro today
€10 euro in 1960 €918.59 euro today
€50 euro in 1960 €4,592.94 euro today
€100 euro in 1960 €9,185.87 euro today
€500 euro in 1960 €45,929.36 euro today
€1,000 euro in 1960 €91,858.71 euro today
€5,000 euro in 1960 €459,293.57 euro today
€10,000 euro in 1960 €918,587.14 euro today
€50,000 euro in 1960 €4,592,935.69 euro today
€100,000 euro in 1960 €9,185,871.39 euro today
€500,000 euro in 1960 €45,929,356.93 euro today
€1,000,000 euro in 1960 €91,858,713.87 euro today

Value of Euro in time (by year)

Period Value
1960 100
1961 103.92
1962 103.92
1963 103.92
1964 105.88
1965 107.84
1966 113.73
1967 117.65
1968 115.69
1969 119.61
1970 121.57
1971 127.45
1972 131.37
1973 139.22
1974 182.35
1975 205.88
1976 239.22
1977 266.67
1978 300
1979 335.29
1980 417.65
1981 527.45
1982 645.1
1983 768.63
1984 923.53
1985 1,090.2
1986 1,360.78
1987 1,592.16
1988 1,843.14
1989 2,100
1990 2,411.68
1991 2,963.57
1992 3,497.51
1993 4,001.25
1994 4,481.98
1995 4,960.06
1996 5,352.95
1997 5,743.18
1998 6,013.98
1999 6,246.66
2000 6,418.1
2001 6,668.77
2002 6,871.84
2003 7,104.62
2004 7,323.13
2005 7,549.58
2006 7,822.99
2007 8,050.55
2008 8,363.16
2009 8,527.58
2010 8,752.87
2011 9,205.68
2012 9,428
2013 9,503.81
2014 9,341.26
2015 9,097.79
2016 9,082.56
2017 9,084.65
2018 9,143.9
Today 9,185.87