The inflation rate in the Eurozone between 1998 and 2018 was 41.29%, which translates into a total increase of €412.93. This means that 1,000 euro in 1998 are equivalent to 1,412.93 euro in 2018. In other words, the purchasing power of €1,000 in 1998 equals €1,412.93 in 2018. The average annual inflation rate between these periods was 1.74%.
The following chart depicts the equivalence of €1,000 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 1998 to 2018 | 41.29% |
| Avg. Annual inflation from 1998 to 2018 | 1.74% |
| CPI 1998 | 73.29 |
| CPI 2018 | 103.55 |
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 1998 and 2018, 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 are €1,000 worth today. There are 20 years between 1998 and 2018 and the average inflation rate was 1.7433%. Therefore, we can resolve the formula like this:
| Initial Value | Equivalent value | |
|---|---|---|
| €1 euro in 1998 | → | €1.41 euro in 2018 |
| €5 euro in 1998 | → | €7.06 euro in 2018 |
| €10 euro in 1998 | → | €14.13 euro in 2018 |
| €50 euro in 1998 | → | €70.65 euro in 2018 |
| €100 euro in 1998 | → | €141.29 euro in 2018 |
| €500 euro in 1998 | → | €706.46 euro in 2018 |
| €1,000 euro in 1998 | → | €1,412.93 euro in 2018 |
| €5,000 euro in 1998 | → | €7,064.65 euro in 2018 |
| €10,000 euro in 1998 | → | €14,129.29 euro in 2018 |
| €50,000 euro in 1998 | → | €70,646.46 euro in 2018 |
| €100,000 euro in 1998 | → | €141,292.91 euro in 2018 |
| €500,000 euro in 1998 | → | €706,464.56 euro in 2018 |
| €1,000,000 euro in 1998 | → | €1,412,929.11 euro in 2018 |
| Cumulative inflation 1998-2018 | 41.29% |
| Avg. annual inflation 1998-2018 | 1.74% |
| CPI 1998 | 73.29 |
| CPI 2018 | 103.55 |
| Period | Value |
|---|---|
| 1998 | 1,000 |
| 1999 | 1,011.73 |
| 2000 | 1,033.87 |
| 2001 | 1,058.98 |
| 2002 | 1,083 |
| 2003 | 1,105.92 |
| 2004 | 1,130.07 |
| 2005 | 1,154.9 |
| 2006 | 1,180.42 |
| 2007 | 1,206.07 |
| 2008 | 1,246.46 |
| 2009 | 1,250.69 |
| 2010 | 1,270.75 |
| 2011 | 1,305.27 |
| 2012 | 1,338.02 |
| 2013 | 1,356.17 |
| 2014 | 1,361.9 |
| 2015 | 1,364.49 |
| 2016 | 1,367.63 |
| 2017 | 1,388.64 |
| 2018 | 1,412.93 |
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:
