# Inflation calculator - Euro (Ireland)

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

€100 in 1976
€701.71 in 2023

The inflation rate in Ireland between 1976 and 2023 was 601.71%, which translates into a total increase of €601.71. This means that 100 euro in 1976 are equivalent to 701.71 euro in 2023. In other words, the purchasing power of €100 in 1976 equals €701.71 in 2023. The average annual inflation rate between these periods was 4.23%.

## Inflation timeline in Ireland (1976 - 2023)

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.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 1976 to 2023 601.71%
Avg. Annual inflation from 1976 to 2023 4.23%
CPI 1976 16.96
CPI 2023 119.03

## How to calculate the time value of money with inflation data?

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 1976 and 2023, use the corresponding CPI values:

Value2023
=Value1976 ×
CPI2023/CPI1976
=€ 100 ×
119.03/16.96
€701.71

### 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 47 years between 1976 and 2023 and the average inflation rate was 4.2325%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.042325)47
€701.71

## Ireland inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1976 €7.02 euro in 2023
€5 euro in 1976 €35.09 euro in 2023
€10 euro in 1976 €70.17 euro in 2023
€50 euro in 1976 €350.86 euro in 2023
€100 euro in 1976 €701.71 euro in 2023
€500 euro in 1976 €3,508.55 euro in 2023
€1,000 euro in 1976 €7,017.11 euro in 2023
€5,000 euro in 1976 €35,085.53 euro in 2023
€10,000 euro in 1976 €70,171.05 euro in 2023
€50,000 euro in 1976 €350,855.27 euro in 2023
€100,000 euro in 1976 €701,710.53 euro in 2023
€500,000 euro in 1976 €3,508,552.66 euro in 2023
€1,000,000 euro in 1976 €7,017,105.33 euro in 2023
 Cumulative inflation 1976-2023 601.71% Avg. annual inflation 1976-2023 4.23% CPI 1976 16.96 CPI 2023 119.03

### Value of Euro over time (by year)

Period Value
1976 100
1977 113.47
1978 122.22
1979 138.47
1980 163.61
1981 196.94
1982 230.71
1983 254.82
1984 276.86
1985 291.8
1986 302.97
1987 312.54
1988 319.21
1989 332.27
1990 343.29
1991 354.31
1992 365.19
1993 370.55
1994 379.11
1995 388.68
1996 395.51
1997 401.6
1998 411.27
1999 417.98
2000 441.29
2001 462.71
2002 484.12
2003 501.03
2004 511.94
2005 524.52
2006 545.16
2007 571.8
2008 594.87
2009 568.42
2010 563.2
2011 577.55
2012 587.34
2013 590.36
2014 591.49
2015 589.53
2016 589.65
2017 591.79
2018 594.58
2019 600.15
2020 598.19
2021 612.19
2022 660.13
2023 701.71

All available years

Today's value of euro (Ireland) by year:

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 | 2022 | 2023 |

Other currencies: