Value of 2004 Euro (Italy) today

€100 in 2004
€145.11 in 2024

The inflation rate in Italy between 2004 and today has been 45.11%, which translates into a total increase of €45.11. This means that 100 euro in 2004 are equivalent to 145.11 euro in 2024. In other words, the purchasing power of €100 in 2004 equals €145.11 today. The average annual inflation rate between these periods has been 1.88%.

Inflation timeline in Italy (2004 - 2024)

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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 2004-2023 44.19%
Cumulative inflation 2004-today 45.11%
Avg. Annual inflation 2004-2023 1.94%
CPI 2004 82.95
CPI 2023 119.61
CPI 2024-04 (latest official data) 120.3
CPI today 120.38

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 2004 and 2023, use the corresponding CPI values:

Value2023
=Value2004 ×
CPI2023/CPI2004
=€ 100 ×
119.61/82.95
€144.19

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.38:

Valuetoday
=Value2004 ×
CPItoday/CPI2004
=€ 100 ×
120.38/82.95
€145.11

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 19 years between 2004 and 2023 and the average inflation rate was 1.9447%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.019447)19
€144.19

Italy inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2004 €1.44 euro in 2023
€5 euro in 2004 €7.21 euro in 2023
€10 euro in 2004 €14.42 euro in 2023
€50 euro in 2004 €72.09 euro in 2023
€100 euro in 2004 €144.19 euro in 2023
€500 euro in 2004 €720.94 euro in 2023
€1,000 euro in 2004 €1,441.87 euro in 2023
€5,000 euro in 2004 €7,209.36 euro in 2023
€10,000 euro in 2004 €14,418.72 euro in 2023
€50,000 euro in 2004 €72,093.58 euro in 2023
€100,000 euro in 2004 €144,187.17 euro in 2023
€500,000 euro in 2004 €720,935.83 euro in 2023
€1,000,000 euro in 2004 €1,441,871.65 euro in 2023
Cumulative inflation From 2004 45.11%
Avg. annual inflation From 2004 1.88%
CPI 2004 82.95
CPI today 120.38

Value of Euro over time (by year)

Period Value
2004 100
2005 101.99
2006 104.12
2007 106.02
2008 109.57
2009 110.42
2010 112.11
2011 115.22
2012 118.73
2013 120.18
2014 120.47
2015 120.51
2016 120.4
2017 121.88
2018 123.26
2019 124.02
2020 123.84
2021 126.17
2022 136.51
2023 144.19
2024-04 145.02
Today 145.11

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: