Value of 1998 Euro today

€100 in 1998

€143.16 in 2018

The inflation rate in the eurozone between 1998 and today has been 43.16%, which translates into a total increase of €43.16. This means that 100 euro in 1998 are equivalent to 143.16 euro in 2018. In other words, the purchasing power of €100 in 1998 equals €143.16 today. The average annual inflation rate has been 1.72%.

Inflation timeline in the eurozone (1998-2018)

The following chart ilustrates the equivalence of €100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1998-2018) 40.68%
Total Inflation* 43.16%
Annual inflation avg. (1998-2018) 1.72%
Annual inflation avg.* 1.72%
CPI 1998 72.99
CPI 2018 102.68
CPI today* 104.49
€1 in 1998 €1.41 in 2018

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 20 years between 1998 and 2018 and the average inflation rate has been 1.7231%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = €100 * (1 + 0.02)20 = €140.68

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1998 was 72.99 and the CPI today is 104.49. Therefore,

Final value = Initial value *
CPI final/CPI initial
= €100 *
102.68/72.99
= €140.68

Eurozone inflation - Conversion table

Initial Value Equivalent value
€1 euro in 1998 €1.43 euro today
€5 euro in 1998 €7.16 euro today
€10 euro in 1998 €14.32 euro today
€50 euro in 1998 €71.58 euro today
€100 euro in 1998 €143.16 euro today
€500 euro in 1998 €715.79 euro today
€1,000 euro in 1998 €1,431.58 euro today
€5,000 euro in 1998 €7,157.89 euro today
€10,000 euro in 1998 €14,315.78 euro today
€50,000 euro in 1998 €71,578.9 euro today
€100,000 euro in 1998 €143,157.8 euro today
€500,000 euro in 1998 €715,789.02 euro today
€1,000,000 euro in 1998 €1,431,578.04 euro today

Value of Euro in time (by year)

Period Value
1998 100
1999 100.85
2000 102.69
2001 105.32
2002 107.52
2003 110.02
2004 112.23
2005 114.88
2006 117.5
2007 119.76
2008 123.48
2009 125.51
2010 126.67
2011 129.48
2012 133.05
2013 136
2014 137.16
2015 136.92
2016 137.24
2017 138.8
2018 140.68
Today 143.16