Value of 1998 Euro (Luxembourg) today

€100 in 1998
€174.54 in 2024

The inflation rate in Luxembourg between 1998 and today has been 74.54%, which translates into a total increase of €74.54. This means that 100 euro in 1998 are equivalent to 174.54 euro in 2024. In other words, the purchasing power of €100 in 1998 equals €174.54 today. The average annual inflation rate between these periods has been 2.17%.

Inflation timeline in Luxembourg (1998 - 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 1998-2023 70.83%
Cumulative inflation 1998-today 74.54%
Avg. Annual inflation 1998-2023 2.17%
CPI 1998 70.35
CPI 2023 120.18
CPI 2024-03 (latest official data) 122.59
CPI today 122.79

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 2023, use the corresponding CPI values:

Value2023
=Value1998 ×
CPI2023/CPI1998
=€ 100 ×
120.18/70.35
€170.83

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.79:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=€ 100 ×
122.79/70.35
€174.54

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 25 years between 1998 and 2023 and the average inflation rate was 2.1652%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.021652)25
€170.83

Luxembourg inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €1.71 euro in 2023
€5 euro in 1998 €8.54 euro in 2023
€10 euro in 1998 €17.08 euro in 2023
€50 euro in 1998 €85.42 euro in 2023
€100 euro in 1998 €170.83 euro in 2023
€500 euro in 1998 €854.16 euro in 2023
€1,000 euro in 1998 €1,708.32 euro in 2023
€5,000 euro in 1998 €8,541.61 euro in 2023
€10,000 euro in 1998 €17,083.22 euro in 2023
€50,000 euro in 1998 €85,416.09 euro in 2023
€100,000 euro in 1998 €170,832.18 euro in 2023
€500,000 euro in 1998 €854,160.9 euro in 2023
€1,000,000 euro in 1998 €1,708,321.8 euro in 2023
Cumulative inflation From 1998 74.54%
Avg. annual inflation From 1998 2.17%
CPI 1998 70.35
CPI today 122.79

Value of Euro over time (by year)

Period Value
1998 100
1999 101.03
2000 104.21
2001 106.98
2002 109.2
2003 111.44
2004 113.92
2005 116.76
2006 119.87
2007 122.64
2008 126.81
2009 127.28
2010 130.17
2011 134.61
2012 138.2
2013 140.59
2014 141.48
2015 142.15
2016 142.56
2017 145.03
2018 147.25
2019 149.81
2020 151.04
2021 154.86
2022 164.67
2023 170.83
2024-03 174.26
Today 174.54

All available years

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

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: