Inflation in 2017 and its effect on euro value
€1 in 2016 is equivalent in purchasing power to about €1.02 in 2017. The euro had an average inflation rate of 1.71% per year between 2016 and 2017, producing a cumulative price increase of 1.71%. Purchasing power decreased by 1.71% in 2017 compared to 2016. On average, you would have to spend 1.71% more money in 2017 than in 2016 for the same item.
This means that prices in 2017 are 1.02 times higher than average prices since 2016, according to the European Central Bank consumer price index.
The inflation rate in 2016 was 0.25%. The inflation rate in 2017 was 1.71%. The 2017 inflation rate is lower compared to the average inflation rate of 3.03% per year between 2017 and 2022.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2017 was 101.96. It was 100.25 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 | 1.71% |
| Converted amount (€1 base) | €1.02 |
| Price difference (€1 base) | €0.02 |
| CPI in 2016 | 100.245 |
| CPI in 2017 | 101.963 |
| Inflation in 2016 | 0.25% |
| Inflation in 2017 | 1.71% |
| €1 in 2016 | €1.02 in 2017 |
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 100.245 in the year 2016 and 101.9633333 in 2017:
101.9633333100.245
×
€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:
101.9633333 - 100.245100.245
×
100
=
2%
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, 10 Aug. 2022, 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 | 1.71% |
| Converted amount (€1 base) | €1.02 |
| Price difference (€1 base) | €0.02 |
| CPI in 2016 | 100.245 |
| CPI in 2017 | 101.963 |
| Inflation in 2016 | 0.25% |
| Inflation in 2017 | 1.71% |
| €1 in 2016 | €1.02 in 2017 |