The Impact of Inflation on value of €1 from 1998 to 2024
In 1913 the price of €1 is approximately equal to €1.70 in 2024. Prices changed by 2.05% (or €0.03) per year on average during that period. It means that every purchase will cost you 1.70 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 €1 in 1998 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 €1 in 1998 Worth Today?
- Converted Amount: The €1 from 1998, adjusted for inflation, would be equivalent to €1.70 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 70.30%.
- Average Inflation Rate: The average annual inflation rate between 1998 and 2024 has been 2.05%.
| Cumulative price change | 70.30% |
| Average inflation rate | 2.05% |
| Converted amount | 1.70 |
| Price difference | 0.70 |
| CPI in 1998 | 73.29 |
| CPI in 2024 | 124.81 |
| Inflation in 1998 | 1.23% |
| Inflation in 2024 | 1.36% |
| 1 in 1998 | 1.70 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1998: 73.29
- CPI in 2024: 124.81
Inflation Rate at 1998 and 2024
- Inflation in 1998: 1.23%
- Inflation in 2024: 1.36%
Price Difference
- The price difference between 1998 and 2024 is €0.70.
1998 to 2024 Inflation Calculator
To understand the transformation of €1 from 1998 into 2024 Euros, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1998 | 73.29 | 1.23% | €1 |
| 2024 | 124.81 | 1.36% | €1.70 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of €1 in 1998
€1 in the year 1998 is now worth €1.70 in 2024, showing a substantial increase of €0.70 over the years. This change underscores how the average inflation rate of 2.05% annually has eroded the purchasing power of the Euro.