Value of 1998 Euro (Spain) today

€100 in 1998
€184.38 in 2024

The inflation rate in Spain between 1998 and today has been 84.38%, which translates into a total increase of €84.38. This means that 100 euro in 1998 are equivalent to 184.38 euro in 2024. In other words, the purchasing power of €100 in 1998 equals €184.38 today. The average annual inflation rate between these periods has been 2.38%.

Inflation timeline in Spain (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 78.34%
Cumulative inflation 1998-today 84.38%
Avg. Annual inflation 1998-2023 2.34%
CPI 1998 67.36
CPI 2023 120.13
CPI 2024-08 (latest official data) 123.87
CPI today 124.2

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 ×
120.13/67.36
€178.34

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.2:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=€ 100 ×
124.2/67.36
€184.38

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 2.3411%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.023411)25
€178.34

Spain inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €1.78 euro in 2023
€5 euro in 1998 €8.92 euro in 2023
€10 euro in 1998 €17.83 euro in 2023
€50 euro in 1998 €89.17 euro in 2023
€100 euro in 1998 €178.34 euro in 2023
€500 euro in 1998 €891.72 euro in 2023
€1,000 euro in 1998 €1,783.44 euro in 2023
€5,000 euro in 1998 €8,917.18 euro in 2023
€10,000 euro in 1998 €17,834.35 euro in 2023
€50,000 euro in 1998 €89,171.76 euro in 2023
€100,000 euro in 1998 €178,343.51 euro in 2023
€500,000 euro in 1998 €891,717.55 euro in 2023
€1,000,000 euro in 1998 €1,783,435.1 euro in 2023
Cumulative inflation From 1998 84.38%
Avg. annual inflation From 1998 2.38%
CPI 1998 67.36
CPI today 124.2

Value of Euro over time (by year)

Period Value
1998 100
1999 102.31
2000 105.82
2001 109.62
2002 112.98
2003 116.42
2004 119.95
2005 124
2006 128.35
2007 131.93
2008 137.31
2009 136.91
2010 139.38
2011 143.83
2012 147.35
2013 149.43
2014 149.2
2015 148.45
2016 148.15
2017 151.05
2018 153.58
2019 154.65
2020 154.16
2021 158.92
2022 172.26
2023 178.34
2024-08 183.89
Today 184.38

All available years

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

1955 | 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: