According to the European Central Bank consumer price index, the euro experienced an average inflation rate of 1.67% per year. Prices in 2016 are 26.0% higher than prices in 2002.
In other words, €100 in 2002 is equivalent in purchasing power to €126.05 in 2016, a difference of €26.05 over 14 years.
The inflation rate in 2016 was 0.24%.
|Cumulative price change||26.05%|
|Average inflation rate||1.67%|
|Converted amount (€100 base)||€126.05|
|Price difference (€100 base)||€26.05|
|CPI in 2002||79.52583333|
|CPI in 2016||100.2416667|
This inflation calculator uses the following inflation rate formula:
CPI in 2016 / CPI in 2002 * 2002 EUR value = 2016 EUR value
Then plug in historical CPI values. The Euro CPI was 79.52583333 in the year 2002 and 100.2416667 in 2016:
100.2416667 / 79.52583333 * €100 = €126.05
€100 in 2002 has the same "purchasing power" or "buying power" as €126.05 in 2016.
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: “2002 euros in 2016 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/2002-euro-in-2016.