# Inflation calculator - Euro (Italy)

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 1956
€3,290.68 in 2023

The inflation rate in Italy between 1956 and 2023 was 3,190.68%, which translates into a total increase of €3,190.68. This means that 100 euro in 1956 are equivalent to 3,290.68 euro in 2023. In other words, the purchasing power of €100 in 1956 equals €3,290.68 in 2023. The average annual inflation rate between these periods was 5.35%.

## Inflation timeline in Italy (1956 - 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 1956 to 2023 3,190.68%
Avg. Annual inflation from 1956 to 2023 5.35%
CPI 1956 3.63
CPI 2023 119.61

## 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 1956 and 2023, use the corresponding CPI values:

Value2023
=Value1956 ×
CPI2023/CPI1956
=€ 100 ×
119.61/3.63
€3,290.68

### 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 67 years between 1956 and 2023 and the average inflation rate was 5.3528%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.053528)67
€3,290.68

## Italy inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1956 €32.91 euro in 2023
€5 euro in 1956 €164.53 euro in 2023
€10 euro in 1956 €329.07 euro in 2023
€50 euro in 1956 €1,645.34 euro in 2023
€100 euro in 1956 €3,290.68 euro in 2023
€500 euro in 1956 €16,453.4 euro in 2023
€1,000 euro in 1956 €32,906.79 euro in 2023
€5,000 euro in 1956 €164,533.97 euro in 2023
€10,000 euro in 1956 €329,067.94 euro in 2023
€50,000 euro in 1956 €1,645,339.72 euro in 2023
€100,000 euro in 1956 €3,290,679.44 euro in 2023
€500,000 euro in 1956 €16,453,397.2 euro in 2023
€1,000,000 euro in 1956 €32,906,794.4 euro in 2023
 Cumulative inflation 1956-2023 3,190.68% Avg. annual inflation 1956-2023 5.35% CPI 1956 3.63 CPI 2023 119.61

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

Period Value
1956 100
1957 101.32
1958 104.21
1959 103.69
1960 106.12
1961 108.3
1962 113.38
1963 121.83
1964 129.03
1965 134.87
1966 138.03
1967 143.18
1968 145.01
1969 148.87
1970 156.26
1971 163.75
1972 173.16
1973 191.86
1974 228.62
1975 267.38
1976 311.8
1977 365.21
1978 409.38
1979 469.96
1980 568.96
1981 671.19
1982 781.81
1983 896.32
1984 993.07
1985 1,084.49
1986 1,147.65
1987 1,202.13
1988 1,262.94
1989 1,342
1990 1,428.64
1991 1,517.93
1992 1,597.94
1993 1,671.87
1994 1,739.61
1995 1,830.69
1996 1,904.04
1997 1,942.94
1998 1,980.93
1999 2,013.88
2000 2,064.99
2001 2,122.5
2002 2,174.83
2003 2,232.95
2004 2,282.23
2005 2,327.54
2006 2,376.2
2007 2,419.68
2008 2,500.69
2009 2,520.06
2010 2,558.51
2011 2,629.65
2012 2,709.63
2013 2,742.68
2014 2,749.29
2015 2,750.36
2016 2,747.77
2017 2,781.48
2018 2,813.12
2019 2,830.31
2020 2,826.41
2021 2,879.37
2022 3,115.52
2023 3,290.68

All available years

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

1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 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 |

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