€100 in 1998 is worth €145.05 today

Why a euro today is worth only 69% of a euro in 1998

Updated: June 10, 2021

€100 in 1998 is equivalent in purchasing power to about €145.05 today, an increase of €45.05 over 23 years. The euro had an average inflation rate of 1.63% per year between 1998 and today, producing a cumulative price increase of 45.05%.

This means that today's prices are 1.45 times higher than average prices since 1998, according to the European Central Bank consumer price index. A euro today only buys 68.94% of what it could buy back then.

The 1998 inflation rate was 1.23%. The current year-over-year inflation rate (2020 to 2021) is now 1.40%1. If this number holds, €100 today will be equivalent in buying power to €101.40 next year.


Inflation from 1998 to 2021
Cumulative price change 45.05%
Average inflation rate 1.63%
Converted amount (€100 base) €145.05
Price difference (€100 base) €45.05
CPI in 1998 73.445
CPI in 2021 106.530
Inflation in 1998 1.23%
Inflation in 2021 1.40%
€100 in 1998 €145.05 in 2021

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

Buying power of €100 in 1998

This chart shows a calculation of buying power equivalence for €100 in 1998 (price index tracking began in 1996).

For example, if you started with €100, you would need to end with €145.05 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When €100 is equivalent to €145.05 over time, that means that the "real value" of a single Euro euro decreases over time. In other words, a euro will pay for fewer items at the store.

This effect explains how inflation erodes the value of a euro over time. By calculating the value in 1998 dollars, the chart below shows how €100 is worth less over 23 years.

According to the European Central Bank, each of these EUR amounts below is equal in terms of what it could buy at the time:

Euro inflation: 1998-2021
Year Euro Value Inflation Rate
1998 €100.00 1.23%
1999 €101.17 1.17%
2000 €103.38 2.18%
2001 €105.88 2.41%
2002 €108.28 2.27%
2003 €110.57 2.12%
2004 €112.98 2.18%
2005 €115.46 2.20%
2006 €118.01 2.21%
2007 €120.56 2.17%
2008 €124.59 3.34%
2009 €124.99 0.32%
2010 €127.01 1.61%
2011 €130.47 2.72%
2012 €133.73 2.50%
2013 €135.53 1.35%
2014 €136.11 0.43%
2015 €136.16 0.03%
2016 €136.49 0.24%
2017 €138.57 1.53%
2018 €141.01 1.75%
2019 €142.69 1.20%
2020 €143.05 0.25%
2021 €145.05 1.40%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 17 more rows

This conversion table shows various other 1998 amounts in today's euros, based on the 45.05% change in prices:

Conversion: 1998 euros today
Initial value Equivalent value
€1 euro in 1998 €1.45 euros today
€5 euros in 1998 €7.25 euros today
€10 euros in 1998 €14.50 euros today
€50 euros in 1998 €72.52 euros today
€100 euros in 1998 €145.05 euros today
€500 euros in 1998 €725.24 euros today
€1,000 euros in 1998 €1,450.47 euros today
€5,000 euros in 1998 €7,252.37 euros today
€10,000 euros in 1998 €14,504.73 euros today
€50,000 euros in 1998 €72,523.66 euros today
€100,000 euros in 1998 €145,047.31 euros today
€500,000 euros in 1998 €725,236.57 euros today
€1,000,000 euros in 1998 €1,450,473.14 euros today

How to Calculate Inflation Rate for €100 since 1998

Our calculations use the following inflation rate formula to calculate the change in value between 1998 and today:

CPI today CPI in 1998
×
1998 EUR value
=
Today's value

Then plug in historical CPI values. The Euro CPI was 73.445 in the year 1998 and 106.53 in 2021:

106.5373.445
×
€100
=
€145.05

€100 in 1998 has the same "purchasing power" or "buying power" as €145.05 in 2021.

To get the total inflation rate for the 23 years between 1998 and 2021, we use the following formula:

CPI in 2021 - CPI in 1998CPI in 1998
×
100
=
Cumulative inflation rate (23 years)

Plugging in the values to this equation, we get:

106.53 - 73.44573.445
×
100
=
45%

News headlines from 1998

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

  • Osama Bin Laden declares a Jihad against Jews and Crusaders.
  • The Good Friday Agreement is accepted in a referendum in Northern Ireland.
  • President of the US Bill Clinton admits that he had an "improper physical relationship" with an intern and then denied it in the same day. The event has come to be known as the Monica Lewinsky scandal.

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: “Value of 1998 euros today | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 22 Jun. 2021, https://www.officialdata.org/europe/inflation/1998.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1998 to 2021
Cumulative price change 45.05%
Average inflation rate 1.63%
Converted amount (€100 base) €145.05
Price difference (€100 base) €45.05
CPI in 1998 73.445
CPI in 2021 106.530
Inflation in 1998 1.23%
Inflation in 2021 1.40%
€100 in 1998 €145.05 in 2021