Value of 1998 Euro (Latvia) today

€100 in 1998
€266.39 in 2022

The inflation rate in Latvia between 1998 and today has been 166.39%, which translates into a total increase of €166.39. This means that 100 euro in 1998 are equivalent to 266.39 euro in 2022. In other words, the purchasing power of €100 in 1998 equals €266.39 today. The average annual inflation rate between these periods has been 4.17%.

Inflation timeline in Latvia (1998 - 2022)

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 1998-2021 114.79%
Cumulative inflation 1998-today 166.39%
Avg. Annual inflation 1998-2021 3.38%
CPI 1998 52.36
CPI 2021 112.46
CPI 2022-08 (latest official data) 136.98
CPI today 139.48

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=€ 100 ×
112.46/52.36
€214.79

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 139.48:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=€ 100 ×
139.48/52.36
€266.39

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 23 years between 1998 and 2021 and the average inflation rate was 3.3797%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=€100 × (1 + 0.033797)23
€214.79

Latvia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €2.15 euro in 2021
€5 euro in 1998 €10.74 euro in 2021
€10 euro in 1998 €21.48 euro in 2021
€50 euro in 1998 €107.39 euro in 2021
€100 euro in 1998 €214.79 euro in 2021
€500 euro in 1998 €1,073.94 euro in 2021
€1,000 euro in 1998 €2,147.87 euro in 2021
€5,000 euro in 1998 €10,739.37 euro in 2021
€10,000 euro in 1998 €21,478.74 euro in 2021
€50,000 euro in 1998 €107,393.72 euro in 2021
€100,000 euro in 1998 €214,787.44 euro in 2021
€500,000 euro in 1998 €1,073,937.2 euro in 2021
€1,000,000 euro in 1998 €2,147,874.41 euro in 2021
Cumulative inflation From 1998 166.39%
Avg. annual inflation From 1998 4.17%
CPI 1998 52.36
CPI today 139.48

Value of Euro over time (by year)

Period Value
1998 100
1999 102.36
2000 105.08
2001 107.7
2002 109.78
2003 113.01
2004 120.01
2005 128.11
2006 136.48
2007 150.26
2008 173.4
2009 179.53
2010 177.58
2011 185.35
2012 189.53
2013 189.48
2014 190.65
2015 190.98
2016 191.25
2017 196.86
2018 201.85
2019 207.52
2020 207.97
2021 214.79
2022-08 261.6
Today 266.39

All available years

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

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 |

Other currencies: