€100 in 2002 is worth €102.12 in 2003

Value of €100 from 2002 to 2003

According to the European Central Bank consumer price index, prices in 2003 are 2.12% higher than average prices since 2002. The Euro experienced an average inflation rate of 2.12% per year during this period, causing the real value of a euro to decrease.

In other words, €100 in 2002 is equivalent in purchasing power to about €102.12 in 2003.

The 2002 inflation rate was 2.27%. The inflation rate in 2003 was 2.12%. The 2003 inflation rate is higher compared to the average inflation rate of 1.57% per year between 2003 and 2020.


Inflation from 2002 to 2003
Average inflation rate 2.12%
Converted amount (€100 base) €102.12
Price difference (€100 base) €2.12
CPI in 2002 79.526
CPI in 2003 81.210
Inflation in 2002 2.27%
Inflation in 2003 2.12%

EUR Inflation since 1996
Annual Rate, the European Central Bank CPI
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How to Calculate Inflation Rate for €100, 2002 to 2003

Our calculations use the following inflation rate formula to calculate the change in value between 2002 and 2003:

CPI in 2003 CPI in 2002
×
2002 EUR value
=
2003 EUR value

Then plug in historical CPI values. The Euro CPI was 79.52583333 in the year 2002 and 81.21 in 2003:

81.2179.52583333
×
€100
=
€102.12

€100 in 2002 has the same "purchasing power" or "buying power" as €102.12 in 2003.

To get the total inflation rate for the 1 years between 2002 and 2003, we use the following formula:

CPI in 2003 - CPI in 2002CPI in 2002
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

81.21 - 79.5258333379.52583333
×
100
=
2%

News headlines from 2002

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

  • United States deploys conventional forces as part of Operation Anaconda during the US invasion of Afghanistan.
  • Jimmy Carter visits Cuba, marking the first time an American president has visited the Island since 1959.
  • It is announced that Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia will become members of the European Union from May 1, 2004.

Data Source & Citation

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: “2002 euros in 2003 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 10 Aug. 2020, https://www.officialdata.org/2002-euro-in-2003.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 2002 to 2003
Average inflation rate 2.12%
Converted amount (€100 base) €102.12
Price difference (€100 base) €2.12
CPI in 2002 79.526
CPI in 2003 81.210
Inflation in 2002 2.27%
Inflation in 2003 2.12%