Inflation in 2020 and its effect on euro value
€1 in 2019 is equivalent in purchasing power to about €1.01 in 2020. The euro had an average inflation rate of 0.74% per year between 2019 and 2020, producing a cumulative price increase of 0.74%. Purchasing power decreased by 0.74% in 2020 compared to 2019. On average, you would have to spend 0.74% more money in 2020 than in 2019 for the same item.
This means that prices in 2020 are 1.01 times as high as average prices since 2019, according to the European Central Bank consumer price index.
The inflation rate in 2019 was 1.47%. The inflation rate in 2020 was 0.74%. The 2020 inflation rate is lower compared to the average inflation rate of 4.73% per year between 2020 and 2024.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2020 was 106.20. It was 105.42 in the previous year, 2019. The difference in CPI between the years is used by the European Central Bank to officially determine inflation.
⌃
| Average inflation rate | 0.74% |
| Converted amount €1 base | €1.01 |
| Price difference €1 base | €0.01 |
| CPI in 2019 | 105.418 |
| CPI in 2020 | 106.201 |
| Inflation in 2019 | 1.47% |
| Inflation in 2020 | 0.74% |
| €1 in 2019 | €1.01 in 2020 |
How to calculate inflation rate for €1, 2019 to 2020
Our calculations use the following inflation rate formula to calculate the change in value between 2019 and 2020:
CPI in 2020 CPI in 2019
×
2019 EUR value
=
2020 EUR value
Then plug in historical CPI values. The Euro CPI was 105.4183333 in the year 2019 and 106.2008333 in 2020:
106.2008333105.4183333
×
€1
=
€1.01
€1 in 2019 has the same "purchasing power" or "buying power" as €1.01 in 2020.
To get the total inflation rate for the 1 years between 2019 and 2020, we use the following formula:
CPI in 2020 - CPI in 2019CPI in 2019
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
106.2008333 - 105.4183333105.4183333
×
100
=
1%
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 2020 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 11 Dec. 2024, https://www.officialdata.org/Euro-inflation-rate-in-2020.
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 | 0.74% |
| Converted amount €1 base | €1.01 |
| Price difference €1 base | €0.01 |
| CPI in 2019 | 105.418 |
| CPI in 2020 | 106.201 |
| Inflation in 2019 | 1.47% |
| Inflation in 2020 | 0.74% |
| €1 in 2019 | €1.01 in 2020 |