Value of 1994 Euro (Portugal) today

€100 in 1994

€192.39 in 2023

The inflation rate in Portugal between 1994 and today has been 92.39%, which translates into a total increase of €92.39. This means that 100 euro in 1994 are equivalent to 192.39 euro in 2023. In other words, the purchasing power of €100 in 1994 equals €192.39 today. The average annual inflation rate between these periods has been 2.28%.

Inflation timeline in Portugal (1994 - 2023)

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 1994-2022	82.55%
Cumulative inflation 1994-today	92.39%
Avg. Annual inflation 1994-2022	2.17%
CPI 1994	61.81
CPI 2022	112.84
CPI 2023-04 (latest official data)	118.36
CPI today	118.92

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:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1994 and 2022, use the corresponding CPI values:

Value₂₀₂₂

=Value₁₉₉₄ ×

CPI₂₀₂₂/CPI₁₉₉₄

=€ 100 ×

112.84/61.81

≈€182.55

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 118.92:

Value_today

=Value₁₉₉₄ ×

CPI_today/CPI₁₉₉₄

=€ 100 ×

118.92/61.81

≈€192.39

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 28 years between 1994 and 2022 and the average inflation rate was 2.1727%. Therefore, we can resolve the formula like this:

Value₂₀₂₂

=PV × (1 + i)ⁿ

=€100 × (1 + 0.021727)²⁸

≈€182.55

Portugal inflation - Conversion table

Initial Value		Equivalent value
€1 euro in 1994	→	€1.83 euro in 2022
€5 euro in 1994	→	€9.13 euro in 2022
€10 euro in 1994	→	€18.25 euro in 2022
€50 euro in 1994	→	€91.27 euro in 2022
€100 euro in 1994	→	€182.55 euro in 2022
€500 euro in 1994	→	€912.74 euro in 2022
€1,000 euro in 1994	→	€1,825.49 euro in 2022
€5,000 euro in 1994	→	€9,127.43 euro in 2022
€10,000 euro in 1994	→	€18,254.86 euro in 2022
€50,000 euro in 1994	→	€91,274.31 euro in 2022
€100,000 euro in 1994	→	€182,548.62 euro in 2022
€500,000 euro in 1994	→	€912,743.1 euro in 2022
€1,000,000 euro in 1994	→	€1,825,486.2 euro in 2022

Cumulative inflation From 1994	92.39%
Avg. annual inflation From 1994	2.28%
CPI 1994	61.81
CPI today	118.92

Value of Euro over time (by year)

Period	Value
1994	100
1995	104.22
1996	107.42
1997	109.93
1998	112.76
1999	115.4
2000	118.69
2001	123.88
2002	128.34
2003	132.47
2004	135.6
2005	138.69
2006	143
2007	146.51
2008	150.3
2009	149.05
2010	151.14
2011	156.66
2012	161
2013	161.44
2014	160.99
2015	161.78
2016	162.76
2017	164.99
2018	166.63
2019	167.19
2020	167.17
2021	169.29
2022	182.55
2023-04	191.49
Today	192.39