Value of 1970 Euro (Italy) today

€1 in 1970
€21.19 in 2024

The inflation rate in Italy between 1970 and today has been 2,019.29%, which translates into a total increase of €20.19. This means that 1 euro in 1970 are equivalent to 21.19 euro in 2023. In other words, the purchasing power of €1 in 1970 equals €21.19 today. The average annual inflation rate between these periods has been 5.82%.

Inflation timeline in Italy (1970 - 2024)

The following chart depicts the equivalence of €1 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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1970-2023 2,005.87%
Cumulative inflation 1970-today 2,019.29%
Avg. Annual inflation 1970-2023 5.92%
CPI 1970 5.68
CPI 2023 119.61
CPI 2024-03 (latest official data) 120.2
CPI today 120.37

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 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 1970 and 2023, use the corresponding CPI values:

Value2023
=Value1970 ×
CPI2023/CPI1970
=€ 1 ×
119.61/5.68
€21.06

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.37:

Valuetoday
=Value1970 ×
CPItoday/CPI1970
=€ 1 ×
120.37/5.68
€21.19

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 is €1 worth today. There are 53 years between 1970 and 2023 and the average inflation rate was 5.9182%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€1 × (1 + 0.059182)53
€21.06

Italy inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1970 €21.06 euro in 2023
€5 euro in 1970 €105.29 euro in 2023
€10 euro in 1970 €210.59 euro in 2023
€50 euro in 1970 €1,052.94 euro in 2023
€100 euro in 1970 €2,105.87 euro in 2023
€500 euro in 1970 €10,529.35 euro in 2023
€1,000 euro in 1970 €21,058.7 euro in 2023
€5,000 euro in 1970 €105,293.52 euro in 2023
€10,000 euro in 1970 €210,587.04 euro in 2023
€50,000 euro in 1970 €1,052,935.2 euro in 2023
€100,000 euro in 1970 €2,105,870.39 euro in 2023
€500,000 euro in 1970 €10,529,351.97 euro in 2023
€1,000,000 euro in 1970 €21,058,703.93 euro in 2023
Cumulative inflation From 1970 2,019.29%
Avg. annual inflation From 1970 5.82%
CPI 1970 5.68
CPI today 120.37

Value of Euro over time (by year)

Period Value
1970 1
1971 1.05
1972 1.11
1973 1.23
1974 1.46
1975 1.71
1976 2
1977 2.34
1978 2.62
1979 3.01
1980 3.64
1981 4.3
1982 5
1983 5.74
1984 6.36
1985 6.94
1986 7.34
1987 7.69
1988 8.08
1989 8.59
1990 9.14
1991 9.71
1992 10.23
1993 10.7
1994 11.13
1995 11.72
1996 12.18
1997 12.43
1998 12.68
1999 12.89
2000 13.21
2001 13.58
2002 13.92
2003 14.29
2004 14.61
2005 14.9
2006 15.21
2007 15.48
2008 16
2009 16.13
2010 16.37
2011 16.83
2012 17.34
2013 17.55
2014 17.59
2015 17.6
2016 17.58
2017 17.8
2018 18
2019 18.11
2020 18.09
2021 18.43
2022 19.94
2023 21.06
2024-03 21.16
Today 21.19

All available years

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

1955 | 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 |

Other currencies: