The inflation rate in Spain between 2002 and 2006 was 13.61%, which translates into a total increase of €0.14. This means that 1 euro in 2002 are equivalent to 1.14 euro in 2006. In other words, the purchasing power of €1 in 2002 equals €1.14 in 2006. The average annual inflation rate between these periods was 3.24%.
The following chart depicts the equivalence of €1 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 2002 to 2006 | 13.61% |
| Avg. Annual inflation from 2002 to 2006 | 3.24% |
| CPI 2002 | 76.11 |
| CPI 2006 | 86.46 |
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.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 2002 and 2006, use the corresponding CPI values:
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:
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 is €1 worth today. There are 4 years between 2002 and 2006 and the average inflation rate was 3.2404%. Therefore, we can resolve the formula like this:
| Initial Value | Equivalent value | |
|---|---|---|
| €1 euro in 2002 | → | €1.14 euro in 2006 |
| €5 euro in 2002 | → | €5.68 euro in 2006 |
| €10 euro in 2002 | → | €11.36 euro in 2006 |
| €50 euro in 2002 | → | €56.8 euro in 2006 |
| €100 euro in 2002 | → | €113.61 euro in 2006 |
| €500 euro in 2002 | → | €568.03 euro in 2006 |
| €1,000 euro in 2002 | → | €1,136.05 euro in 2006 |
| €5,000 euro in 2002 | → | €5,680.27 euro in 2006 |
| €10,000 euro in 2002 | → | €11,360.54 euro in 2006 |
| €50,000 euro in 2002 | → | €56,802.71 euro in 2006 |
| €100,000 euro in 2002 | → | €113,605.43 euro in 2006 |
| €500,000 euro in 2002 | → | €568,027.13 euro in 2006 |
| €1,000,000 euro in 2002 | → | €1,136,054.26 euro in 2006 |
| Cumulative inflation 2002-2006 | 13.61% |
| Avg. annual inflation 2002-2006 | 3.24% |
| CPI 2002 | 76.11 |
| CPI 2006 | 86.46 |
| Period | Value |
|---|---|
| 2002 | 1 |
| 2003 | 1.03 |
| 2004 | 1.06 |
| 2005 | 1.1 |
| 2006 | 1.14 |
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 | 2024 |
Other currencies: