Value of 2004 Euro (Latvia) today

€100 in 2004

€177.5 today

The inflation rate in Latvia between 2004 and today has been 77.5%, which translates into a total increase of €77.5. This means that 100 euro in 2004 are equivalent to 177.5 euro in 2018. In other words, the purchasing power of €100 in 2004 equals €177.5 today. The average annual inflation rate has been 3.9%.

Inflation timeline in Latvia (2004-2019)

The following chart ilustrates the equivalence of €100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (2004-2018) 73.08%
Total Inflation* 77.5%
Annual inflation avg. (2004-2018) 4%
Annual inflation avg.* 3.9%
CPI 2004 59.95
CPI 2018 103.76
CPI today* 106.41
€1 in 2004 €1.73 in 2018

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 14 years between 2004 and 2018 and the average inflation rate has been 3.8994%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = €100 * (1 + 0.04)14 = €173.08

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 2004 was 59.95 and the CPI today is 106.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= €100 *
103.76/59.95
= €173.08

Latvia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2004 €1.77 euro today
€5 euro in 2004 €8.87 euro today
€10 euro in 2004 €17.75 euro today
€50 euro in 2004 €88.75 euro today
€100 euro in 2004 €177.5 euro today
€500 euro in 2004 €887.5 euro today
€1,000 euro in 2004 €1,775 euro today
€5,000 euro in 2004 €8,874.99 euro today
€10,000 euro in 2004 €17,749.99 euro today
€50,000 euro in 2004 €88,749.94 euro today
€100,000 euro in 2004 €177,499.89 euro today
€500,000 euro in 2004 €887,499.43 euro today
€1,000,000 euro in 2004 €1,774,998.86 euro today

Value of Euro in time (by year)

Period Value
2004 100
2005 107.32
2006 114.79
2007 122.64
2008 139.89
2009 154.63
2010 152.82
2011 156.71
2012 163.02
2013 165.62
2014 164.93
2015 165.25
2016 165.82
2017 169.44
2018 173.08
Today 177.5