According to the European Central Bank consumer price index, prices in 1998 are 1.23% higher than prices in 1997. The euro experienced an average inflation rate of 1.23% per year during this period.
In other words, €100 in 1997 is equivalent in purchasing power to €101.23 in 1998.
The 1997 inflation rate was 1.70%. The inflation rate in 1998 was 1.23%. The 1998 inflation rate is lower compared to the average inflation rate of 1.72% per year between 1998 and 2018.
|Average inflation rate||1.23%|
|Converted amount (€100 base)||€101.23|
|Price difference (€100 base)||€1.23|
|CPI in 1997||72.555|
|CPI in 1998||73.445|
|Inflation in 1997||1.70%|
|Inflation in 1998||1.23%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Euro CPI was 72.555 in the year 1997 and 73.445 in 1998:
€100 in 1997 has the same "purchasing power" or "buying power" as €101.23 in 1998.
To get the total inflation rate for the 1 years between 1997 and 1998, we use the following formula:
Plugging in the values to this equation, we get:
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the European Commission and the European Central Bank's Harmonized Index of Consumer prices (HICP), which is computed based on the reported consumer price indices in member countries of the European Union.
You may use the following MLA citation for this page: “1997 euros in 1998 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Oct. 2018, https://www.officialdata.org/1997-euro-in-1998.
in2013dollars.com is a reference website maintained by the Official Data Foundation.