Euro inflation rate in 1998: 1.23%

Euro Inflation Calculator

Inflation since 1998 and its effect on euro value

The consumer price index (CPI) in 1998 was 73.445. It was 72.555 in the previous year. This change in CPI is used by the European Central Bank to calculate inflation.

According to the European Central Bank consumer price index, the euro experienced an average inflation rate of 1.72% per year. Prices in 2018 are 40.7% higher than prices in 1998.

In other words, €100 in 1998 is equivalent in purchasing power to €140.66 in 2018, a difference of €40.66 over 20 years.

The current inflation rate is now 1.50%1. If this number holds, €100 today will be equivalent to €101.50 next year.

Inflation from 1998 to 2018
Cumulative price change 40.66%
Average inflation rate 1.72%
Converted amount (€100 base) €140.66
Price difference (€100 base) €40.66
CPI in 1998 73.445
CPI in 2018 103.31


Euro inflation chart from 1996 to 2017


How to calculate the inflation rate for €100 since 1998

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1998 * 1998 EUR value = 2018 EUR value

Then plug in historical CPI values. The Euro CPI was 73.445 in the year 1998 and 103.31 in 2018:

103.31 / 73.445 * €100 = €140.66

€100 in 1998 has the same "purchasing power" or "buying power" as €140.66 in 2018.


Here are calculations of buying power over time for €100 in 1998 (price index tracking began in 1996). Each of these EUR amounts below is equivalent in terms of what it could buy at the time:
Year EUR Value Inflation Rate
1998 €100.00 1.23%
1999 €101.17 1.17%
2000 €103.38 2.18%
2001 €105.88 2.41%
2002 €108.28 2.27%
2003 €110.57 2.12%
2004 €112.98 2.18%
2005 €115.46 2.20%
2006 €118.01 2.21%
2007 €120.56 2.17%
2008 €124.59 3.34%
2009 €124.99 0.32%
2010 €127.01 1.61%
2011 €130.47 2.72%
2012 €133.73 2.50%
2013 €135.53 1.35%
2014 €136.11 0.43%
2015 €136.16 0.03%
2016 €136.49 0.24%
2017 €138.58 1.54%
2018 €140.66 1.50%*
* Not final. See inflation summary for latest details.

News headlines from 1998

Politics and news often influence economic performance. Here's what was happening at the time:

  • Osama Bin Laden declares a Jihad against Jews and Crusaders.
  • The Good Friday Agreement is accepted in a referendum in Northern Ireland.
  • President of the US Bill Clinton admits that he had an "improper physical relationship" with an intern and then denied it in the same day. The event has come to be known as the Monica Lewinsky scandal.

Inflation Data Source

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: “Inflation Rate in 1998 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Jun. 2018, https://www.officialdata.org/Euro-inflation-rate-in-1998.


» Read more about inflation.