Value of 1988 Euro (Greece) today

€100 in 1988

€498.38 today

The inflation rate in Greece between 1988 and today has been 398.38%, which translates into a total increase of €398.38. This means that 100 euro in 1988 are equivalent to 498.38 euro in 2018. In other words, the purchasing power of €100 in 1988 equals €498.38 today. The average annual inflation rate has been 5.32%.

Inflation timeline in Greece (1988-2019)

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 (1988-2018) 396.11%
Total Inflation* 398.38%
Annual inflation avg. (1988-2018) 5.48%
Annual inflation avg.* 5.32%
CPI 1988 20.31
CPI 2018 100.76
CPI today* 101.22
€1 in 1988 €4.96 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 30 years between 1988 and 2018 and the average inflation rate has been 5.3179%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = €100 * (1 + 0.05)30 = €496.11

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 1988 was 20.31 and the CPI today is 101.22. Therefore,

Final value = Initial value *
CPI final/CPI initial
= €100 *
100.76/20.31
= €496.11

Greece inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1988 €4.98 euro today
€5 euro in 1988 €24.92 euro today
€10 euro in 1988 €49.84 euro today
€50 euro in 1988 €249.19 euro today
€100 euro in 1988 €498.38 euro today
€500 euro in 1988 €2,491.91 euro today
€1,000 euro in 1988 €4,983.82 euro today
€5,000 euro in 1988 €24,919.12 euro today
€10,000 euro in 1988 €49,838.24 euro today
€50,000 euro in 1988 €249,191.2 euro today
€100,000 euro in 1988 €498,382.4 euro today
€500,000 euro in 1988 €2,491,911.99 euro today
€1,000,000 euro in 1988 €4,983,823.98 euro today

Value of Euro in time (by year)

Period Value
1988 100
1989 113.94
1990 130.85
1991 160.79
1992 189.76
1993 217.09
1994 243.17
1995 269.11
1996 290.43
1997 311.6
1998 326.29
1999 338.91
2000 348.22
2001 361.82
2002 372.83
2003 385.46
2004 397.32
2005 409.61
2006 424.44
2007 436.79
2008 453.75
2009 462.67
2010 474.89
2011 499.46
2012 511.52
2013 515.63
2014 506.81
2015 493.6
2016 492.78
2017 492.89
2018 496.11
Today 498.38