Inflation in 1997 and its effect on euro value
€1 in 1996 is equivalent in purchasing power to about €1.02 in 1997. The euro had an average inflation rate of 1.70% per year between 1996 and 1997, producing a cumulative price increase of 1.70%. Purchasing power decreased by 1.70% in 1997 compared to 1996. On average, you would have to spend 1.70% more money in 1997 than in 1996 for the same item.
This means that prices in 1997 are 1.02 times higher than average prices since 1996, according to the European Central Bank consumer price index.
The 1996 inflation rate was NaN%. The inflation rate in 1997 was 1.70%. The 1997 inflation rate is higher compared to the average inflation rate of 1.61% per year between 1997 and 2021.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1997 was 72.56. It was 71.34 in the previous year, 1996. The difference in CPI between the years is used by the European Central Bank to officially determine inflation.
⌃
| Average inflation rate | 1.70% |
| Converted amount (€1 base) | €1.02 |
| Price difference (€1 base) | €0.02 |
| CPI in 1996 | 71.339 |
| CPI in 1997 | 72.555 |
| Inflation in 1996 | 0.00% |
| Inflation in 1997 | 1.70% |
| €1 in 1996 | €1.02 in 1997 |
How to Calculate Inflation Rate for €1, 1996 to 1997
Our calculations use the following inflation rate formula to calculate the change in value between 1996 and 1997:
CPI in 1997
CPI in 1996
×
1996 EUR value
=
1997 EUR value
Then plug in historical CPI values. The Euro CPI was 71.33916667 in the year 1996 and 72.555 in 1997:
72.55571.33916667
×
€1
=
€1.02
€1 in 1996 has the same "purchasing power" or "buying power" as €1.02 in 1997.
To get the total inflation rate for the 1 years between 1996 and 1997, we use the following formula:
CPI in 1997 - CPI in 1996CPI in 1996
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
72.555 - 71.3391666771.33916667
×
100
=
2%
News headlines from 1996
Politics and news often influence economic performance. Here's what was happening at the time:
- The Motorola StarTAC, the first clamshell flip phone, goes on sale worldwide.
- Osama bin Laden issues "A declaration of war against the Americans occupying the land of the two holy places".
- Bill Clinton signs the Welfare Reform Bill into law.
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: “Inflation Rate in 1997 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 May. 2021, https://www.officialdata.org/Euro-inflation-rate-in-1997.
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.
| Average inflation rate | 1.70% |
| Converted amount (€1 base) | €1.02 |
| Price difference (€1 base) | €0.02 |
| CPI in 1996 | 71.339 |
| CPI in 1997 | 72.555 |
| Inflation in 1996 | 0.00% |
| Inflation in 1997 | 1.70% |
| €1 in 1996 | €1.02 in 1997 |