Ft100 in 2003
The inflation rate in Hungary between 2003 and today has been 88.85%, which translates into a total increase of Ft88.85. This means that 100 forints in 2003 are equivalent to 188.85 forints in 2021. In other words, the purchasing power of Ft100 in 2003 equals Ft188.85 today. The average annual inflation rate has been 3.4%.
The following chart depicts the equivalence of Ft100 throughout the years due to 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 (HUF) 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:
|Total Inflation (2003-2021)||88.47%|
|Annual inflation avg. (2003-2021)||3.58%|
|Annual inflation avg.*||3.4%|
|Ft1 in 2003||Ft1.88 in 2021|
* Values extrapolated from the last official data to obtain today's values.
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.
Given that money changes with 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:
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 Ft100 worth today. There are 18 years between 2003 and 2021 and the average inflation rate has been 3.403%. Therefore, we can resolve the formula like this:
FV = PV (1 + i)n = Ft100 * (1 + 0.03)18 = Ft188.47
When the CPI for both start and end years is known, the following formula can be used:
In this case, the CPI in 2003 was 60.33 and the CPI today is 113.93. Therefore,
|Initial Value||Equivalent value|
|Ft1 forint in 2003||Ft1.89 forints today|
|Ft5 forints in 2003||Ft9.44 forints today|
|Ft10 forints in 2003||Ft18.89 forints today|
|Ft50 forints in 2003||Ft94.43 forints today|
|Ft100 forints in 2003||Ft188.85 forints today|
|Ft500 forints in 2003||Ft944.27 forints today|
|Ft1,000 forints in 2003||Ft1,888.54 forints today|
|Ft5,000 forints in 2003||Ft9,442.7 forints today|
|Ft10,000 forints in 2003||Ft18,885.4 forints today|
|Ft50,000 forints in 2003||Ft94,426.99 forints today|
|Ft100,000 forints in 2003||Ft188,853.99 forints today|
|Ft500,000 forints in 2003||Ft944,269.94 forints today|
|Ft1,000,000 forints in 2003||Ft1,888,539.88 forints today|
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