Value of 2003 Euro (Latvia) today

€100 in 2003
€235.58 in 2022

The inflation rate in Latvia between 2003 and today has been 135.58%, which translates into a total increase of €135.58. This means that 100 euro in 2003 are equivalent to 235.58 euro in 2022. In other words, the purchasing power of €100 in 2003 equals €235.58 today. The average annual inflation rate between these periods has been 4.61%.

Inflation timeline in Latvia (2003 - 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 2003-2021 90.05%
Cumulative inflation 2003-today 135.58%
Avg. Annual inflation 2003-2021 3.63%
CPI 2003 59.17
CPI 2021 112.46
CPI 2022-08 (latest official data) 136.98
CPI today 139.4

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 2003 and 2021, use the corresponding CPI values:

Value2021
=Value2003 ×
CPI2021/CPI2003
=€ 100 ×
112.46/59.17
€190.05

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 139.4:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=€ 100 ×
139.4/59.17
€235.58

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 18 years between 2003 and 2021 and the average inflation rate was 3.6318%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=€100 × (1 + 0.036318)18
€190.05

Latvia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2003 €1.9 euro in 2021
€5 euro in 2003 €9.5 euro in 2021
€10 euro in 2003 €19.01 euro in 2021
€50 euro in 2003 €95.03 euro in 2021
€100 euro in 2003 €190.05 euro in 2021
€500 euro in 2003 €950.27 euro in 2021
€1,000 euro in 2003 €1,900.54 euro in 2021
€5,000 euro in 2003 €9,502.7 euro in 2021
€10,000 euro in 2003 €19,005.4 euro in 2021
€50,000 euro in 2003 €95,027.02 euro in 2021
€100,000 euro in 2003 €190,054.04 euro in 2021
€500,000 euro in 2003 €950,270.22 euro in 2021
€1,000,000 euro in 2003 €1,900,540.43 euro in 2021
Cumulative inflation From 2003 135.58%
Avg. annual inflation From 2003 4.61%
CPI 2003 59.17
CPI today 139.4

Value of Euro over time (by year)

Period Value
2003 100
2004 106.19
2005 113.36
2006 120.77
2007 132.96
2008 153.44
2009 158.86
2010 157.14
2011 164
2012 167.71
2013 167.66
2014 168.7
2015 168.99
2016 169.23
2017 174.19
2018 178.6
2019 183.62
2020 184.03
2021 190.05
2022-08 231.48
Today 235.58

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: