Value of 1983 Euro (Greece) today

€100 in 1983

€1,196.73 in 2019

The inflation rate in Greece between 1983 and today has been 1,096.73%, which translates into a total increase of €1,096.73. This means that 100 euro in 1983 are equivalent to 1,196.73 euro in 2019. In other words, the purchasing power of €100 in 1983 equals €1,196.73 today. The average annual inflation rate has been 6.94%.

Inflation timeline in Greece (1983-2019)

The following chart depicts the equivalence of €100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1983-2019) 1,096.34%
Total Inflation* 1,096.73%
Annual inflation avg. (1983-2019) 7.14%
Annual inflation avg.* 6.94%
CPI 1983 8.47
CPI 2019 101.33
CPI today* 101.36
€1 in 1983 €11.96 in 2019

* 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 36 years between 1983 and 2019 and the average inflation rate has been 6.9387%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = €100 * (1 + 0.07)36 = €1,196.34

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 1983 was 8.47 and the CPI today is 101.36. Therefore,

Final value = Initial value *
CPI final/CPI initial
= €100 *
101.33/8.47
= €1,196.34

Greece inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1983 €11.97 euro today
€5 euro in 1983 €59.84 euro today
€10 euro in 1983 €119.67 euro today
€50 euro in 1983 €598.37 euro today
€100 euro in 1983 €1,196.73 euro today
€500 euro in 1983 €5,983.67 euro today
€1,000 euro in 1983 €11,967.33 euro today
€5,000 euro in 1983 €59,836.66 euro today
€10,000 euro in 1983 €119,673.33 euro today
€50,000 euro in 1983 €598,366.65 euro today
€100,000 euro in 1983 €1,196,733.3 euro today
€500,000 euro in 1983 €5,983,666.49 euro today
€1,000,000 euro in 1983 €11,967,332.97 euro today

Value of Euro in time (by year)

Period Value
1983 100
1984 120.15
1985 141.84
1986 177.04
1987 207.14
1988 239.8
1989 273.21
1990 313.76
1991 385.57
1992 455.03
1993 520.57
1994 583.11
1995 645.31
1996 696.43
1997 747.2
1998 782.43
1999 812.7
2000 835.01
2001 867.62
2002 894.04
2003 924.33
2004 952.75
2005 982.22
2006 1,017.79
2007 1,047.39
2008 1,088.06
2009 1,109.46
2010 1,138.77
2011 1,197.68
2012 1,226.6
2013 1,236.47
2014 1,215.32
2015 1,183.64
2016 1,181.66
2017 1,181.93
2018 1,189.64
2019 1,196.34
Today 1,196.73