According to the European Central Bank, the euro experienced an average inflation rate of 1.85% per year. Prices in 2002 are 9.6% higher than prices in 1997.
In other words, €100 in the year 1997 is equivalent to €109.61 in 2002, a difference of €9.61 over 5 years.
The inflation rate in 2002 was 2.27%.
|Cumulative price change||9.61%|
|Average inflation rate||1.85%|
|Price difference (€100 base)||€9.61|
|CPI in 1997||72.555|
|CPI in 2002||79.52583333|
Politics and news often play an important role in economic performance.
Inflation Data Source: 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.