€100 in 2004 is worth €128.38 today

Why a euro today is worth only 78% of a euro in 2004

Updated: July 13, 2021

€100 in 2004 is equivalent in purchasing power to about €128.38 today, an increase of €28.38 over 17 years. The euro had an average inflation rate of 1.48% per year between 2004 and today, producing a cumulative price increase of 28.38%.

This means that today's prices are 1.28 times higher than average prices since 2004, according to the European Central Bank consumer price index. A euro today only buys 77.89% of what it could buy back then.

The 2004 inflation rate was 2.18%. 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 2004 to 2021
Cumulative price change 28.38%
Average inflation rate 1.48%
Converted amount (€100 base) €128.38
Price difference (€100 base) €28.38
CPI in 2004 82.978
CPI in 2021 106.530
Inflation in 2004 2.18%
Inflation in 2021 1.40%
€100 in 2004 €128.38 in 2021

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

Buying power of €100 in 2004

This chart shows a calculation of buying power equivalence for €100 in 2004 (price index tracking began in 1996).

For example, if you started with €100, you would need to end with €128.38 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When €100 is equivalent to €128.38 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 2004 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: 2004-2021
Year Euro Value Inflation Rate
2004 €100.00 2.18%
2005 €102.20 2.20%
2006 €104.45 2.21%
2007 €106.71 2.17%
2008 €110.28 3.34%
2009 €110.63 0.32%
2010 €112.41 1.61%
2011 €115.48 2.72%
2012 €118.36 2.50%
2013 €119.96 1.35%
2014 €120.47 0.43%
2015 €120.51 0.03%
2016 €120.80 0.24%
2017 €122.65 1.53%
2018 €124.81 1.75%
2019 €126.30 1.20%
2020 €126.62 0.25%
2021 €128.38 1.40%*
* 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 2004 amounts in today's euros, based on the 28.38% change in prices:

Conversion: 2004 euros today
Initial value Equivalent value
€1 euro in 2004 €1.28 euros today
€5 euros in 2004 €6.42 euros today
€10 euros in 2004 €12.84 euros today
€50 euros in 2004 €64.19 euros today
€100 euros in 2004 €128.38 euros today
€500 euros in 2004 €641.91 euros today
€1,000 euros in 2004 €1,283.83 euros today
€5,000 euros in 2004 €6,419.15 euros today
€10,000 euros in 2004 €12,838.29 euros today
€50,000 euros in 2004 €64,191.46 euros today
€100,000 euros in 2004 €128,382.91 euros today
€500,000 euros in 2004 €641,914.56 euros today
€1,000,000 euros in 2004 €1,283,829.11 euros today

How to Calculate Inflation Rate for €100 since 2004

Our calculations use the following inflation rate formula to calculate the change in value between 2004 and today:

CPI today CPI in 2004
×
2004 EUR value
=
Today's value

Then plug in historical CPI values. The Euro CPI was 82.97833333 in the year 2004 and 106.53 in 2021:

106.5382.97833333
×
€100
=
€128.38

€100 in 2004 has the same "purchasing power" or "buying power" as €128.38 in 2021.

To get the total inflation rate for the 17 years between 2004 and 2021, we use the following formula:

CPI in 2021 - CPI in 2004CPI in 2004
×
100
=
Cumulative inflation rate (17 years)

Plugging in the values to this equation, we get:

106.53 - 82.9783333382.97833333
×
100
=
28%

News headlines from 2004

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

  • The Humanitarian Ceasefire Agreement is signed by the Sudanese government and two rebel groups.
  • Massachusetts becomes the first United States state to legalize same-sex marriage.
  • The Indonesian elections are won by Susilo Bambang Yudhoyono.

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 2004 euros today | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Jul. 2021, https://www.officialdata.org/europe/inflation/2004.

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 2004 to 2021
Cumulative price change 28.38%
Average inflation rate 1.48%
Converted amount (€100 base) €128.38
Price difference (€100 base) €28.38
CPI in 2004 82.978
CPI in 2021 106.530
Inflation in 2004 2.18%
Inflation in 2021 1.40%
€100 in 2004 €128.38 in 2021