According to the European Central Bank consumer price index, the euro experienced an average inflation rate of 1.90% per year. Prices in 2003 are 11.9% higher than prices in 1997.
In other words, €100 in 1997 is equivalent in purchasing power to €111.93 in 2003, a difference of €11.93 over 6 years.
The inflation rate in 2003 was 2.12%.
|Cumulative price change||11.93%|
|Average inflation rate||1.90%|
|Converted amount (€100 base)||€111.93|
|Price difference (€100 base)||€11.93|
|CPI in 1997||72.555|
|CPI in 2003||81.21|
This inflation calculator uses the following inflation rate formula:
CPI in 2003 / CPI in 1997 * 1997 EUR value = 2003 EUR value
Then plug in historical CPI values. The Euro CPI was 72.555 in the year 1997 and 81.21 in 2003:
81.21 / 72.555 * €100 = €111.93
€100 in 1997 has the same "purchasing power" or "buying power" as €111.93 in 2003.
Politics and news often influence economic performance. Here's what was happening at the time:
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: “1997 euros in 2003 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/1997-euro-in-2003.