# €1 in 2010 is worth €0.98 in 2008

## Value of €1 from 2010 to 2008

€1 in 2010 is equivalent in purchasing power to about €0.98 in 2008, an increase of €-0.02 over 2 years. The euro had an average inflation rate of 0.96% per year between 2008 and 2010, producing a cumulative price increase of -1.90%.

This means that prices in 2008 are 1.9% lower than average prices since 2010, according to the European Central Bank consumer price index.

The 2008 inflation rate was 3.34%. The inflation rate in 2010 was 1.61%. The 2010 inflation rate is higher compared to the average inflation rate of 1.21% per year between 2010 and 2021.

 Cumulative price change -1.90% Average inflation rate 0.96% Converted amount (€1 base) €0.98 Price difference (€1 base) €-0.02 CPI in 2010 93.280 CPI in 2008 91.508 Inflation in 2008 3.34% Inflation in 2010 1.61% €1 in 2010 €0.98 in 2008

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

## Buying power of €1 in 2008

This chart shows a calculation of buying power equivalence for €1 in 2008 (price index tracking began in 1996).

For example, if you started with €1, you would need to end with €0.98 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When €1 is equivalent to €0.98 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 2008 dollars, the chart below shows how €1 is worth less over 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:

Euro inflation: 2008-2010
Year Euro Value Inflation Rate
2008 €1.00 3.34%
2009 €1.00 0.32%
2010 €1.02 1.61%
2011 €1.05 2.72%
2012 €1.07 2.50%
2013 €1.09 1.35%
2014 €1.09 0.43%
2015 €1.09 0.03%
2016 €1.10 0.24%
2017 €1.11 1.53%
2018 €1.13 1.75%
2019 €1.15 1.20%
2020 €1.15 0.25%
2021 €1.16 1.40%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2008 amounts in 2010 euros, based on the -1.90% change in prices:

Conversion: 2008 euros in 2010
Initial value Equivalent value
€1 euro in 2008 €1.02 euros in 2010
€5 euros in 2008 €5.10 euros in 2010
€10 euros in 2008 €10.19 euros in 2010
€50 euros in 2008 €50.97 euros in 2010
€100 euros in 2008 €101.94 euros in 2010
€500 euros in 2008 €509.68 euros in 2010
€1,000 euros in 2008 €1,019.36 euros in 2010
€5,000 euros in 2008 €5,096.80 euros in 2010
€10,000 euros in 2008 €10,193.61 euros in 2010
€50,000 euros in 2008 €50,968.04 euros in 2010
€100,000 euros in 2008 €101,936.07 euros in 2010
€500,000 euros in 2008 €509,680.36 euros in 2010
€1,000,000 euros in 2008 €1,019,360.71 euros in 2010

## How to Calculate Inflation Rate for €1, 2008 to 2010

Our calculations use the following inflation rate formula to calculate the change in value between 2008 and 2010:

CPI in 2008 CPI in 2010
×
2010 EUR value
=
2008 EUR value

Then plug in historical CPI values. The Euro CPI was 93.28 in the year 2010 and 91.50833333 in 2008:

91.5083333393.28
×
€1
=
€0.98

€1 in 2010 has the same "purchasing power" or "buying power" as €0.98 in 2008.

To get the total inflation rate for the 2 years between 2008 and 2010, we use the following formula:

CPI in 2008 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

91.50833333 - 93.2893.28
×
100
=
-2%

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

• The Copiapo mining accident in Chile ends, after 33 miners resurface having spent 69 days trapped in the ruins.
• Big Haiti earthquake kills 230,000 people and leaves most of Port-au-Prince, its capital, in ruins.
• An explosion on the Deepwater Horizon (a drilling rig), kills 11 people and spills a massive amount of oil into the Gulf of Mexico.
• The US army abolishes the "Don't Ask Don't Tell" policy, which had banned homosexuals from openly serving in the US military.

## 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 2010 → 2008 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 May. 2021, https://www.officialdata.org/europe/inflation/2010?amount=1&endYear=2008.

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.