Euro inflation rate in 1998: 1.23%

Euro Inflation Calculator

Euro Inflation Rate, 1998-2017 (€1)

The consumer price index (CPI) in 1998 was 73.445. the European Central Bank uses this CPI value to track inflation on a monthly basis.

According to the European Central Bank, the euro experienced an average inflation rate of 1.75% per year. Prices in 2017 are 38.9% higher than prices in 1998.

In other words, €1 in the year 1998 is equivalent to €1.39 in 2017, a difference of €0.39 over 19 years.

The current inflation rate in 2017 is 1.89%1. If this number holds, €1 today will be equivalent to €1.02 next year.

Inflation from 1998 to 2017
Cumulative price change 38.93%
Average inflation rate 1.75%
Price difference (€1 base) €0.39
CPI in 1998 73.445
CPI in 2017 102.04

Euro inflation chart from 1996 to 2017

How to calculate the inflation rate for €1 since 1998

Start with the inflation rate formula:

CPI in 2017 / CPI in 1998 * 1998 EUR value = 2017 EUR value

Then plug in historical CPI values. The Euro CPI was 73.445 in the year 1998 and 102.04 in 2017:

102.04 / 73.445 * €1 = €1.39

€1 in 1998 has the same "purchasing power" as €1.39 in 2017.

News headlines from 1998

Politics and news often play an important role in economic performance.

  • 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.

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.

» Read more about inflation.