The Impact of Inflation on value of ¥1000000 from 1993 to 2024
In 1913 the price of ¥1000000 is approximately equal to ¥2594561.16 in 2024. Prices changed by 3.60% (or ¥51437.46) per year on average during that period. It means that every purchase will cost you 2.59 times as much.
Inflation is a powerful force that can erode the purchasing power of money over time. For anyone curious about the value of ¥1000000 in 1993 and what it would be worth in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.
How Much is ¥1000000 in 1993 Worth Today?
- Converted Amount: The ¥1000000 from 1993, adjusted for inflation, would be equivalent to ¥2594561.16 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 159.46%.
- Average Inflation Rate: The average annual inflation rate between 1993 and 2024 has been 3.60%.
| Cumulative price change | 159.46% |
| Average inflation rate | 3.60% |
| Converted amount | 2594561.16 |
| Price difference | 1594561.16 |
| CPI in 1993 | 396.04 |
| CPI in 2024 | 1027.55 |
| Inflation in 1993 | 14.70% |
| Inflation in 2024 | 0.08% |
| 1000000 in 1993 | 2594561.16 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1993: 396.04
- CPI in 2024: 1027.55
Inflation Rate at 1993 and 2024
- Inflation in 1993: 14.70%
- Inflation in 2024: 0.08%
Price Difference
- The price difference between 1993 and 2024 is ¥1594561.16.
1993 to 2024 Inflation Calculator
To understand the transformation of ¥1000000 from 1993 into 2024 Chinese Yuans, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1993 | 396.04 | 14.70% | ¥1000000 |
| 2024 | 1027.55 | 0.08% | ¥2594561.16 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of ¥1000000 in 1993
¥1000000 in the year 1993 is now worth ¥2594561.16 in 2024, showing a substantial increase of ¥1594561.16 over the years. This change underscores how the average inflation rate of 3.60% annually has eroded the purchasing power of the Chinese Yuan.