Inflation calculator - Euro (Slovakia)

€500 in 2007
€733.79 in 2022

The inflation rate in Slovakia between 2007 and 2022 was 46.76%, which translates into a total increase of €233.79. This means that 500 euro in 2007 are equivalent to 733.79 euro in 2022. In other words, the purchasing power of €500 in 2007 equals €733.79 in 2022. The average annual inflation rate between these periods was 2.59%.

Inflation timeline in Slovakia (2007 - 2022)

The following chart depicts the equivalence of €500 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.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 2007 to 2022 46.76%
Avg. Annual inflation from 2007 to 2022 2.59%
CPI 2007 85.7
CPI 2022 125.78

How to calculate the time value of money with inflation data?

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 2007 and 2022, use the corresponding CPI values:

Value2022
=Value2007 ×
CPI2022/CPI2007
=€ 500 ×
125.78/85.7
€733.79

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 €500 worth today. There are 15 years between 2007 and 2022 and the average inflation rate was 2.5904%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=€500 × (1 + 0.025904)15
€733.79

Slovakia inflation - Conversion table

Initial Value Equivalent value
€1 euro in 2007 €1.47 euro in 2022
€5 euro in 2007 €7.34 euro in 2022
€10 euro in 2007 €14.68 euro in 2022
€50 euro in 2007 €73.38 euro in 2022
€100 euro in 2007 €146.76 euro in 2022
€500 euro in 2007 €733.79 euro in 2022
€1,000 euro in 2007 €1,467.59 euro in 2022
€5,000 euro in 2007 €7,337.94 euro in 2022
€10,000 euro in 2007 €14,675.87 euro in 2022
€50,000 euro in 2007 €73,379.36 euro in 2022
€100,000 euro in 2007 €146,758.72 euro in 2022
€500,000 euro in 2007 €733,793.62 euro in 2022
€1,000,000 euro in 2007 €1,467,587.24 euro in 2022
Cumulative inflation 2007-2022 46.76%
Avg. annual inflation 2007-2022 2.59%
CPI 2007 85.7
CPI 2022 125.78

Value of Euro over time (by year)

Period Value
2007 500
2008 522.99
2009 531.44
2010 536.52
2011 557.55
2012 577.66
2013 585.75
2014 585.3
2015 583.4
2016 580.36
2017 587.98
2018 602.76
2019 618.82
2020 630.81
2021 650.68
2022 733.79

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 | 2024 |

Other currencies: