# Value of 1998 Euro (Slovakia) today

€100 in 1998
€293.87 in 2024

The inflation rate in Slovakia between 1998 and today has been 193.87%, which translates into a total increase of €193.87. This means that 100 euro in 1998 are equivalent to 293.87 euro in 2024. In other words, the purchasing power of €100 in 1998 equals €293.87 today. The average annual inflation rate between these periods has been 4.23%.

## Inflation timeline in Slovakia (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 186.35%
Cumulative inflation 1998-today 193.87%
Avg. Annual inflation 1998-2023 4.3%
CPI 1998 48.55
CPI 2023 139.03
CPI 2024-05 (latest official data) 142.48
CPI today 142.68

## 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 ×
139.03/48.55
€286.35

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 142.68:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=€ 100 ×
142.68/48.55
€293.87

### 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 4.298%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.04298)25
€286.35

## Slovakia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €2.86 euro in 2023
€5 euro in 1998 €14.32 euro in 2023
€10 euro in 1998 €28.63 euro in 2023
€50 euro in 1998 €143.17 euro in 2023
€100 euro in 1998 €286.35 euro in 2023
€500 euro in 1998 €1,431.75 euro in 2023
€1,000 euro in 1998 €2,863.5 euro in 2023
€5,000 euro in 1998 €14,317.49 euro in 2023
€10,000 euro in 1998 €28,634.99 euro in 2023
€50,000 euro in 1998 €143,174.94 euro in 2023
€100,000 euro in 1998 €286,349.87 euro in 2023
€500,000 euro in 1998 €1,431,749.37 euro in 2023
€1,000,000 euro in 1998 €2,863,498.74 euro in 2023
 Cumulative inflation From 1998 193.87% Avg. annual inflation From 1998 4.23% CPI 1998 48.55 CPI today 142.68

### Value of Euro over time (by year)

Period Value
1998 100
1999 110.57
2000 123.88
2001 132.96
2002 137.12
2003 148.85
2004 160.08
2005 164.42
2006 171.79
2007 176.52
2008 184.64
2009 187.62
2010 189.42
2011 196.84
2012 203.94
2013 206.8
2014 206.64
2015 205.97
2016 204.9
2017 207.59
2018 212.8
2019 218.47
2020 222.71
2021 229.72
2022 259.07
2023 286.35
2024-05 293.47
Today 293.87

All available years

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

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: