Value of 2004 Euro (Latvia) today

€100 in 2004
€201.31 in 2022

The inflation rate in Latvia between 2004 and today has been 101.31%, which translates into a total increase of €101.31. This means that 100 euro in 2004 are equivalent to 201.31 euro in 2022. In other words, the purchasing power of €100 in 2004 equals €201.31 today. The average annual inflation rate between these periods has been 3.96%.

Inflation timeline in Latvia (2004 - 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 2004-2021 78.97%
Cumulative inflation 2004-today 101.31%
Avg. Annual inflation 2004-2021 3.48%
CPI 2004 62.84
CPI 2021 112.46
CPI 2022-04 (latest official data) 125.39
CPI today 126.5

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 2021, use the corresponding CPI values:

Value2021
=Value2004 ×
CPI2021/CPI2004
=€ 100 ×
112.46/62.84
€178.97

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.5:

Valuetoday
=Value2004 ×
CPItoday/CPI2004
=€ 100 ×
126.5/62.84
€201.31

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 17 years between 2004 and 2021 and the average inflation rate was 3.4831%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=€100 × (1 + 0.034831)17
€178.97

Latvia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2004 €1.79 euro in 2021
€5 euro in 2004 €8.95 euro in 2021
€10 euro in 2004 €17.9 euro in 2021
€50 euro in 2004 €89.49 euro in 2021
€100 euro in 2004 €178.97 euro in 2021
€500 euro in 2004 €894.86 euro in 2021
€1,000 euro in 2004 €1,789.71 euro in 2021
€5,000 euro in 2004 €8,948.57 euro in 2021
€10,000 euro in 2004 €17,897.14 euro in 2021
€50,000 euro in 2004 €89,485.72 euro in 2021
€100,000 euro in 2004 €178,971.45 euro in 2021
€500,000 euro in 2004 €894,857.23 euro in 2021
€1,000,000 euro in 2004 €1,789,714.47 euro in 2021
Cumulative inflation From 2004 101.31%
Avg. annual inflation From 2004 3.96%
CPI 2004 62.84
CPI today 126.5

Value of Euro over time (by year)

Period Value
2004 100
2005 106.75
2006 113.73
2007 125.2
2008 144.49
2009 149.59
2010 147.97
2011 154.44
2012 157.93
2013 157.88
2014 158.86
2015 159.14
2016 159.36
2017 164.03
2018 168.19
2019 172.92
2020 173.29
2021 178.97
2022-04 199.54
Today 201.31

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: