Inflation in 2017 and its effect on euro value
Purchasing power decreased by 1.54% in 2017 compared to 2016. On average, you would have to spend 1.54% more money in 2017 than in 2016 for the same item.
In other words, €1 in 2016 is equivalent in purchasing power to about €1.02 in 2017.
The 2016 inflation rate was 0.24%. The inflation rate in 2017 was 1.54%. The 2017 inflation rate is higher compared to the average inflation rate of 1.32% per year between 2017 and 2020.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2017 was 101.78. It was 100.24 in the previous year, 2016. The difference in CPI between the years is used by the European Central Bank to officially determine inflation.
⌃
| Average inflation rate | 1.54% |
| Converted amount (€1 base) | €1.02 |
| Price difference (€1 base) | €0.02 |
| CPI in 2016 | 100.242 |
| CPI in 2017 | 101.782 |
| Inflation in 2016 | 0.24% |
| Inflation in 2017 | 1.54% |
How to Calculate Inflation Rate for €1, 2016 to 2017
Our calculations use the following inflation rate formula to calculate the change in value between 2016 and 2017:
CPI in 2017
CPI in 2016
×
2016 EUR value
=
2017 EUR value
Then plug in historical CPI values. The Euro CPI was 100.2416667 in the year 2016 and 101.7816667 in 2017:
101.7816667100.2416667
×
€1
=
€1.02
€1 in 2016 has the same "purchasing power" or "buying power" as €1.02 in 2017.
To get the total inflation rate for the 1 years between 2016 and 2017, we use the following formula:
CPI in 2017 - CPI in 2016CPI in 2016
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
101.7816667 - 100.2416667100.2416667
×
100
=
2%
News headlines from 2016
Politics and news often influence economic performance. Here's what was happening at the time:
- The United Kingdom votes to leave the European Union in a referendum, prompting Prime Minister David Cameron to resign.
- Donald Trump becomes the 45th President of the United States.
- The World Health Organisation confirms the outbreak of the Zika virus.
- Andrei Karlov, the Russian ambassador to Turkey, is assassinated.
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 2017 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 Sep. 2020, https://www.officialdata.org/Euro-inflation-rate-in-2017.
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 | 1.54% |
| Converted amount (€1 base) | €1.02 |
| Price difference (€1 base) | €0.02 |
| CPI in 2016 | 100.242 |
| CPI in 2017 | 101.782 |
| Inflation in 2016 | 0.24% |
| Inflation in 2017 | 1.54% |