Value of 2003 Euro (Slovakia) today

€100 in 2003
€171.14 in 2022

The inflation rate in Slovakia between 2003 and today has been 71.14%, which translates into a total increase of €71.14. This means that 100 euro in 2003 are equivalent to 171.14 euro in 2022. In other words, the purchasing power of €100 in 2003 equals €171.14 today. The average annual inflation rate between these periods has been 2.87%.

Inflation timeline in Slovakia (2003 - 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 2003-2021 54.34%
Cumulative inflation 2003-today 71.14%
Avg. Annual inflation 2003-2021 2.44%
CPI 2003 72.27
CPI 2021 111.53
CPI 2022-04 (latest official data) 122.54
CPI today 123.68

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 2003 and 2021, use the corresponding CPI values:

Value2021
=Value2003 ×
CPI2021/CPI2003
=€ 100 ×
111.53/72.27
€154.34

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 123.68:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=€ 100 ×
123.68/72.27
€171.14

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 18 years between 2003 and 2021 and the average inflation rate was 2.4402%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=€100 × (1 + 0.024402)18
€154.34

Slovakia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2003 €1.54 euro in 2021
€5 euro in 2003 €7.72 euro in 2021
€10 euro in 2003 €15.43 euro in 2021
€50 euro in 2003 €77.17 euro in 2021
€100 euro in 2003 €154.34 euro in 2021
€500 euro in 2003 €771.68 euro in 2021
€1,000 euro in 2003 €1,543.35 euro in 2021
€5,000 euro in 2003 €7,716.76 euro in 2021
€10,000 euro in 2003 €15,433.51 euro in 2021
€50,000 euro in 2003 €77,167.56 euro in 2021
€100,000 euro in 2003 €154,335.12 euro in 2021
€500,000 euro in 2003 €771,675.58 euro in 2021
€1,000,000 euro in 2003 €1,543,351.16 euro in 2021
Cumulative inflation From 2003 71.14%
Avg. annual inflation From 2003 2.87%
CPI 2003 72.27
CPI today 123.68

Value of Euro over time (by year)

Period Value
2003 100
2004 107.55
2005 110.46
2006 115.41
2007 118.6
2008 124.05
2009 126.05
2010 127.26
2011 132.25
2012 137.02
2013 138.93
2014 138.83
2015 138.38
2016 137.66
2017 139.46
2018 142.97
2019 146.78
2020 149.62
2021 154.34
2022-04 169.57
Today 171.14

All available years

Today's value of euro (Slovakia) 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: