Purchasing power decreased by 1.17% in 1999 compared to the previous year, 1998. On average, you would have to spend 1.17% more money in 1999 than in 1998 for the same item.
In other words, €1 in 1998 is equivalent in purchasing power to €1.01 in 1999.
The 1998 inflation rate was 1.23%. The inflation rate in 1999 was 1.17%. The 1999 inflation rate is lower compared to the average inflation rate of 1.71% per year between 1999 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1999 was 74.30416667. It was 73.445 in the previous year, 1998. The difference in CPI between the years is used by the European Central Bank to officially determine inflation.
|Average inflation rate||1.17%|
|Converted amount (€1 base)||€1.01|
|Price difference (€1 base)||€0.01|
|CPI in 1998||73.445|
|CPI in 1999||74.304|
|Inflation in 1998||1.23%|
|Inflation in 1999||1.17%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Euro CPI was 73.445 in the year 1998 and 74.30416667 in 1999:
€1 in 1998 has the same "purchasing power" or "buying power" as €1.01 in 1999.
To get the total inflation rate for the 1 years between 1998 and 1999, 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: “Inflation Rate in 1999 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Feb. 2019, https://www.officialdata.org/Euro-inflation-rate-in-1999.
in2013dollars.com is a reference website maintained by the Official Data Foundation.