According to the European Central Bank consumer price index, prices in 2016 are 23.44% higher than prices in 2003. The euro experienced an average inflation rate of 1.63% per year during this period.
In other words, €100 in 2003 is equivalent in purchasing power to €123.44 in 2016, a difference of €23.44 over 13 years.
The 2003 inflation rate was 2.12%. The inflation rate in 2016 was 0.24%. The 2016 inflation rate is lower compared to the average inflation rate of 1.52% per year between 2016 and 2018.
|Cumulative price change||23.44%|
|Average inflation rate||1.63%|
|Converted amount (€100 base)||€123.44|
|Price difference (€100 base)||€23.44|
|CPI in 2003||81.210|
|CPI in 2016||100.242|
|Inflation in 2003||2.12%|
|Inflation in 2016||0.24%|
This chart shows calculations of buying power equivalence over time for €100 in 2003 (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|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Euro CPI was 81.21 in the year 2003 and 100.2416667 in 2016:
€100 in 2003 has the same "purchasing power" or "buying power" as €123.44 in 2016.
To get the total inflation rate for the 13 years between 2003 and 2016, 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: “2003 euros in 2016 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Dec. 2018, https://www.officialdata.org/2003-euro-in-2016.
in2013dollars.com is a reference website maintained by the Official Data Foundation.