According to the European Central Bank consumer price index, the euro experienced an average inflation rate of 2.08% per year. Prices in 2011 are 15.5% higher than prices in 2004.
In other words, €100 in 2004 is equivalent in purchasing power to €115.48 in 2011, a difference of €15.48 over 7 years.
The inflation rate in 2011 was 2.72%.
|Cumulative price change||15.48%|
|Average inflation rate||2.08%|
|Converted amount (€100 base)||€115.48|
|Price difference (€100 base)||€15.48|
|CPI in 2004||82.97833333|
|CPI in 2011||95.82083333|
This inflation calculator uses the following inflation rate formula:
CPI in 2011 / CPI in 2004 * 2004 EUR value = 2011 EUR value
Then plug in historical CPI values. The Euro CPI was 82.97833333 in the year 2004 and 95.82083333 in 2011:
95.82083333 / 82.97833333 * €100 = €115.48
€100 in 2004 has the same "purchasing power" or "buying power" as €115.48 in 2011.
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: “2004 euros in 2011 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/2004-euro-in-2011.