# €1 in 2000 → €0.97 in 1998

## Euro Inflation Calculator

### Euro Inflation Rate, €1 from 2000 to 1998

According to the European Central Bank consumer price index, prices in 1998 are 3.27% lower than average prices since 2000. The Euro experienced an average inflation rate of 1.68% per year during this period, meaning the real value of a euro decreased.

In other words, €1 in 2000 is equivalent in purchasing power to about €0.97 in 1998, a difference of €-0.03 over 2 years.

The 1998 inflation rate was 1.23%. The inflation rate in 2000 was 2.18%. The 2000 inflation rate is higher compared to the average inflation rate of 1.68% per year between 2000 and 2020.

 Cumulative price change -3.27% Average inflation rate 1.68% Converted amount (€1 base) €0.97 Price difference (€1 base) €-0.03 CPI in 2000 75.928 CPI in 1998 73.445 Inflation in 1998 1.23% Inflation in 2000 2.18%

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

### Buying power of €1 in 1998

This chart shows a calculation of buying power equivalence for €1 in 1998 (price index tracking began in 1996).

For example, if you started with €1, you would need to end with €0.97 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When €1 is equivalent to €0.97 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 €1 buys less over the past 2 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:

Year Euro Value Inflation Rate
1998 €1.00 1.23%
1999 €1.01 1.17%
2000 €1.03 2.18%
2001 €1.06 2.41%
2002 €1.08 2.27%
2003 €1.11 2.12%
2004 €1.13 2.18%
2005 €1.15 2.20%
2006 €1.18 2.21%
2007 €1.21 2.17%
2008 €1.25 3.34%
2009 €1.25 0.32%
2010 €1.27 1.61%
2011 €1.30 2.72%
2012 €1.34 2.50%
2013 €1.36 1.35%
2014 €1.36 0.43%
2015 €1.36 0.03%
2016 €1.36 0.24%
2017 €1.39 1.54%
2018 €1.41 1.67%
2019 €1.42 0.78%
2020 €1.44 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

### How to Calculate Inflation Rate for €1, 1998 to 2000

This inflation calculator uses the following inflation rate formula:

CPI in 1998CPI in 2000
×
2000 EUR value
=
1998 EUR value

Then plug in historical CPI values. The Euro CPI was 75.9275 in the year 2000 and 73.445 in 1998:

73.44575.9275
×
€1
=
€0.97

€1 in 2000 has the same "purchasing power" or "buying power" as €0.97 in 1998.

To get the total inflation rate for the 2 years between 1998 and 2000, we use the following formula:

CPI in 1998 - CPI in 2000CPI in 2000
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

73.445 - 75.927575.9275
×
100
=
-3%

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

• Steve Ballmer becomes CEO of Microsoft after Bill Gates steps down.
• Dot-com bubble bursts after NASDAQ Composite stock market index peaks.
• George Bush becomes President of the U.S. in a disputed election that is eventually resolved by the Supreme Court.
• Gisborne, New Zealand becomes the first city to enter the new millennium.

### 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: “€1 in 2000 → 1998 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Feb. 2020, https://www.officialdata.org/europe/inflation/2000?amount=1&endYear=1998.