According to the European Central Bank consumer price index, the euro experienced an average inflation rate of 2.19% per year. Prices in 2004 are 6.7% higher than prices in 2001.
In other words, €100 in 2001 is equivalent in purchasing power to €106.71 in 2004, a difference of €6.71 over 3 years.
The inflation rate in 2004 was 2.18%.
|Cumulative price change||6.71%|
|Average inflation rate||2.19%|
|Converted amount (€100 base)||€106.71|
|Price difference (€100 base)||€6.71|
|CPI in 2001||77.76|
|CPI in 2004||82.97833333|
This inflation calculator uses the following inflation rate formula:
CPI in 2004 / CPI in 2001 * 2001 EUR value = 2004 EUR value
Then plug in historical CPI values. The Euro CPI was 77.76 in the year 2001 and 82.97833333 in 2004:
82.97833333 / 77.76 * €100 = €106.71
€100 in 2001 has the same "purchasing power" or "buying power" as €106.71 in 2004.
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: “2001 euros in 2004 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/2001-euro-in-2004.