According to the European Central Bank consumer price index, prices in 2004 are 12.98% higher than prices in 1998. The euro experienced an average inflation rate of 2.05% per year during this period.

In other words, €100 in 1998 is equivalent in purchasing power to €112.98 in 2004, a difference of €12.98 over 6 years.

The 1998 inflation rate was 1.23%. The inflation rate in 2004 was 2.18%. The 2004 inflation rate is higher compared to the average inflation rate of 1.58% per year between 2004 and 2018.

⌃

Cumulative price change | 12.98% |

Average inflation rate | 2.05% |

Converted amount (€100 base) | €112.98 |

Price difference (€100 base) | €12.98 |

CPI in 1998 | 73.445 |

CPI in 2004 | 82.978 |

Inflation in 1998 | 1.23% |

Inflation in 2004 | 2.18% |

This chart shows calculations of buying power equivalence over time for €100 in 1998 (price index tracking began in 1996).

According to the European Central Bank, each of these EUR amounts below is equal in terms of what it could buy at the time:

Year | EUR Value | Inflation Rate |
---|---|---|

1998 | €100.00 | 1.23% |

1999 | €101.17 | 1.17% |

2000 | €103.38 | 2.18% |

2001 | €105.88 | 2.41% |

2002 | €108.28 | 2.27% |

2003 | €110.57 | 2.12% |

2004 | €112.98 | 2.18% |

2005 | €115.46 | 2.20% |

2006 | €118.01 | 2.21% |

2007 | €120.56 | 2.17% |

2008 | €124.59 | 3.34% |

2009 | €124.99 | 0.32% |

2010 | €127.01 | 1.61% |

2011 | €130.47 | 2.72% |

2012 | €133.73 | 2.50% |

2013 | €135.53 | 1.35% |

2014 | €136.11 | 0.43% |

2015 | €136.16 | 0.03% |

2016 | €136.49 | 0.24% |

2017 | €138.58 | 1.54% |

2018 | €140.66 | 1.50%* |

This inflation calculator uses the following inflation rate formula:

CPI in 2004CPI in 1998

×

1998 EUR value

=

2004 EUR value

Then plug in historical CPI values. The Euro CPI was 73.445 in the year 1998 and 82.97833333 in 2004:

82.9783333373.445

×

€100

=

€100 in 1998 has the same "purchasing power" or "buying power" as €112.98 in 2004.

To get the total inflation rate for the 6 years between 1998 and 2004, we use the following formula:

CPI in 2004 - CPI in 1998CPI in 1998

×

100

=

Plugging in the values to this equation, we get:

82.97833333 - 73.44573.445

×

100

=

Politics and news often influence economic performance. Here's what was happening at the time:

- Osama Bin Laden declares a Jihad against Jews and Crusaders.
- The Good Friday Agreement is accepted in a referendum in Northern Ireland.
- President of the US Bill Clinton admits that he had an "improper physical relationship" with an intern and then denied it in the same day. The event has come to be known as the Monica Lewinsky scandal.

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: “1998 euros in 2004 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2018, https://www.officialdata.org/1998-euro-in-2004.

in2013dollars.com is a reference website maintained by the Official Data Foundation.