The Impact of Inflation on value of €8 from 2004 to 2024
In 1913 the price of €8 is approximately equal to €12.06 in 2024. Prices changed by 2.09% (or €0.20) per year on average during that period. It means that every purchase will cost you 1.51 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 €12.06 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 50.70%.
- Average Inflation Rate: The average annual inflation rate between 2004 and 2024 has been 2.09%.
| Cumulative price change | 50.70% |
| Average inflation rate | 2.09% |
| Converted amount | 12.06 |
| Price difference | 4.06 |
| CPI in 2004 | 82.82 |
| CPI in 2024 | 124.81 |
| Inflation in 2004 | 2.18% |
| Inflation in 2024 | 1.36% |
| 8 in 2004 | 12.06 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 2004: 82.82
- CPI in 2024: 124.81
Inflation Rate at 2004 and 2024
- Inflation in 2004: 2.18%
- Inflation in 2024: 1.36%
Price Difference
- The price difference between 2004 and 2024 is €4.06.
2004 to 2024 Inflation Calculator
To understand the transformation of €8 from 2004 into 2024 Euros, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 2004 | 82.82 | 2.18% | €8 |
| 2024 | 124.81 | 1.36% | €12.06 |
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 €12.06 in 2024, showing a substantial increase of €4.06 over the years. This change underscores how the average inflation rate of 2.09% annually has eroded the purchasing power of the Euro.