# €100 in 2003 is worth €102.18 in 2004

## Value of €100 from 2003 to 2004

According to the European Central Bank consumer price index, prices in 2004 are 2.18% higher than average prices since 2003. The Euro experienced an average inflation rate of 2.18% per year during this period, causing the real value of a euro to decrease.

In other words, €100 in 2003 is equivalent in purchasing power to about €102.18 in 2004.

The 2003 inflation rate was 2.12%. The inflation rate in 2004 was 2.18%. The 2004 inflation rate is higher compared to the average inflation rate of 1.53% per year between 2004 and 2020.

 Average inflation rate 2.18% Converted amount (€100 base) €102.18 Price difference (€100 base) €2.18 CPI in 2003 81.210 CPI in 2004 82.978 Inflation in 2003 2.12% Inflation in 2004 2.18%

EUR Inflation since 1996
Annual Rate, the European Central Bank CPI

## How to Calculate Inflation Rate for €100, 2003 to 2004

Our calculations use the following inflation rate formula to calculate the change in value between 2003 and 2004:

CPI in 2004 CPI in 2003
×
2003 EUR value
=
2004 EUR value

Then plug in historical CPI values. The Euro CPI was 81.21 in the year 2003 and 82.97833333 in 2004:

82.9783333381.21
×
€100
=
€102.18

€100 in 2003 has the same "purchasing power" or "buying power" as €102.18 in 2004.

To get the total inflation rate for the 1 years between 2003 and 2004, we use the following formula:

CPI in 2004 - CPI in 2003CPI in 2003
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

82.97833333 - 81.2181.21
×
100
=
2%

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

• Despite a lack of support from the United Nations, a coalition lead by America and Britain invades Iraq.
• Baghdad falls, ending the invasion of Iraq.
• 10 new members are admitted to the European Union after signing the Treaty of Accession in Athens.

## 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: “2003 euros in 2004 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 May. 2020, https://www.officialdata.org/2003-euro-in-2004.