The Impact of Inflation on value of ¥8 from 2004 to 2024
In 1913 the price of ¥8 is approximately equal to ¥12.44 in 2024. Prices changed by 2.32% (or ¥0.22) per year on average during that period. It means that every purchase will cost you 1.55 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 ¥8 in 2004 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 ¥8 in 2004 Worth Today?
- Converted Amount: The ¥8 from 2004, adjusted for inflation, would be equivalent to ¥12.44 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 55.48%.
- Average Inflation Rate: The average annual inflation rate between 2004 and 2024 has been 2.32%.
| Cumulative price change | 55.48% |
| Average inflation rate | 2.32% |
| Converted amount | 12.44 |
| Price difference | 4.44 |
| CPI in 2004 | 660.91 |
| CPI in 2024 | 1027.55 |
| Inflation in 2004 | 3.90% |
| Inflation in 2024 | 0.08% |
| 8 in 2004 | 12.44 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 2004: 660.91
- CPI in 2024: 1027.55
Inflation Rate at 2004 and 2024
- Inflation in 2004: 3.90%
- Inflation in 2024: 0.08%
Price Difference
- The price difference between 2004 and 2024 is ¥4.44.
2004 to 2024 Inflation Calculator
To understand the transformation of ¥8 from 2004 into 2024 Chinese Yuans, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 2004 | 660.91 | 3.90% | ¥8 |
| 2024 | 1027.55 | 0.08% | ¥12.44 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of ¥8 in 2004
¥8 in the year 2004 is now worth ¥12.44 in 2024, showing a substantial increase of ¥4.44 over the years. This change underscores how the average inflation rate of 2.32% annually has eroded the purchasing power of the Chinese Yuan.