Value of 1998 Euro today

€100 in 1998
€170.07 in 2024

The inflation rate in the Eurozone between 1998 and today has been 70.07%, which translates into a total increase of €70.07. This means that 100 euro in 1998 are equivalent to 170.07 euro in 2024. In other words, the purchasing power of €100 in 1998 equals €170.07 today. The average annual inflation rate between these periods has been 2.06%.

Inflation timeline in the Eurozone (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 68.06%
Cumulative inflation 1998-today 70.07%
Avg. Annual inflation 1998-2023 2.1%
CPI 1998 73.29
CPI 2023 123.17
CPI 2024-02 (latest official data) 124.39
CPI today 124.64

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 ×
123.17/73.29
€168.06

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.64:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=€ 100 ×
124.64/73.29
€170.07

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 2.0984%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=€100 × (1 + 0.020984)25
€168.06

Eurozone inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €1.68 euro in 2023
€5 euro in 1998 €8.4 euro in 2023
€10 euro in 1998 €16.81 euro in 2023
€50 euro in 1998 €84.03 euro in 2023
€100 euro in 1998 €168.06 euro in 2023
€500 euro in 1998 €840.32 euro in 2023
€1,000 euro in 1998 €1,680.64 euro in 2023
€5,000 euro in 1998 €8,403.21 euro in 2023
€10,000 euro in 1998 €16,806.42 euro in 2023
€50,000 euro in 1998 €84,032.1 euro in 2023
€100,000 euro in 1998 €168,064.2 euro in 2023
€500,000 euro in 1998 €840,321 euro in 2023
€1,000,000 euro in 1998 €1,680,642 euro in 2023
Cumulative inflation From 1998 70.07%
Avg. annual inflation From 1998 2.06%
CPI 1998 73.29
CPI today 124.64

Value of Euro over time (by year)

Period Value
1998 100
1999 101.17
2000 103.39
2001 105.9
2002 108.3
2003 110.59
2004 113.01
2005 115.49
2006 118.04
2007 120.61
2008 124.65
2009 125.07
2010 127.07
2011 130.53
2012 133.8
2013 135.62
2014 136.19
2015 136.45
2016 136.76
2017 138.86
2018 141.29
2019 142.98
2020 143.34
2021 147.05
2022 159.41
2023 168.06
2024-02 169.73
Today 170.07

All available years

Today's value of euro 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: