€100 in 2003 is worth €130.34 today

Why a euro today is worth only 77% of a euro in 2003

Updated: June 11, 2020

According to the European Central Bank consumer price index, today's prices in 2020 are 30.34% higher than average prices since 2003. This means that a euro today only buys 76.72% of what it could buy in 2003. The Euro experienced an average inflation rate of 1.57% per year during this period, causing the real value of a euro to decrease.

In other words, €100 in 2003 is equivalent in purchasing power to about €130.34 in 2020, a difference of €30.34 over 17 years.

The 2003 inflation rate was 2.12%. The current year-over-year inflation rate (2019 to 2020) is now 1.50%1. If this number holds, €100 today will be equivalent in buying power to €101.50 next year.


Inflation from 2003 to 2020
Cumulative price change 30.34%
Average inflation rate 1.57%
Converted amount (€100 base) €130.34
Price difference (€100 base) €30.34
CPI in 2003 81.210
CPI in 2020 105.850
Inflation in 2003 2.12%
Inflation in 2020 1.50%

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

Buying power of €100 in 2003

This chart shows a calculation of buying power equivalence for €100 in 2003 (price index tracking began in 1996).

For example, if you started with €100, you would need to end with €130.34 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When €100 is equivalent to €130.34 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 2003 dollars, the chart below shows how €100 is worth less over 17 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: 2003-2020
Year Euro Value Inflation Rate
2003 €100.00 2.12%
2004 €102.18 2.18%
2005 €104.42 2.20%
2006 €106.73 2.21%
2007 €109.04 2.17%
2008 €112.68 3.34%
2009 €113.04 0.32%
2010 €114.86 1.61%
2011 €117.99 2.72%
2012 €120.94 2.50%
2013 €122.57 1.35%
2014 €123.10 0.43%
2015 €123.14 0.03%
2016 €123.44 0.24%
2017 €125.33 1.54%
2018 €127.42 1.67%
2019 €128.42 0.78%
2020 €130.34 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 11 more rows

This conversion table shows various other 2003 amounts in today's euros, based on the 30.34% change in prices:

Conversion Table: Value of a euro today
Initial value Equivalent value
€1 euro in 2003 €1.30 euros today
€5 euros in 2003 €6.52 euros today
€10 euros in 2003 €13.03 euros today
€50 euros in 2003 €65.17 euros today
€100 euros in 2003 €130.34 euros today
€500 euros in 2003 €651.71 euros today
€1,000 euros in 2003 €1,303.41 euros today
€5,000 euros in 2003 €6,517.05 euros today
€10,000 euros in 2003 €13,034.11 euros today
€50,000 euros in 2003 €65,170.55 euros today
€100,000 euros in 2003 €130,341.09 euros today
€500,000 euros in 2003 €651,705.45 euros today
€1,000,000 euros in 2003 €1,303,410.91 euros today

How to Calculate Inflation Rate for €100 since 2003

Our calculations use the following inflation rate formula to calculate the change in value between 2003 and today:

CPI today CPI in 2003
×
2003 EUR value
=
Today's value

Then plug in historical CPI values. The Euro CPI was 81.21 in the year 2003 and 105.85 in 2020:

105.8581.21
×
€100
=
€130.34

€100 in 2003 has the same "purchasing power" or "buying power" as €130.34 in 2020.

To get the total inflation rate for the 17 years between 2003 and 2020, we use the following formula:

CPI in 2020 - CPI in 2003CPI in 2003
×
100
=
Cumulative inflation rate (17 years)

Plugging in the values to this equation, we get:

105.85 - 81.2181.21
×
100
=
30%

News headlines from 2003

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

  • Despite a lack of support from the United Nations, a coalition lead by America and Britain invades Iraq.
  • Baghdad falls, ending the invasion of Iraq.
  • 10 new members are admitted to the European Union after signing the Treaty of Accession in Athens.

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 2003 euros today | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Jul. 2020, https://www.officialdata.org/europe/inflation/2003.

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 2003 to 2020
Cumulative price change 30.34%
Average inflation rate 1.57%
Converted amount (€100 base) €130.34
Price difference (€100 base) €30.34
CPI in 2003 81.210
CPI in 2020 105.850
Inflation in 2003 2.12%
Inflation in 2020 1.50%