The consumer price index (CPI) in 2008 was 91.50833333. It was 88.54833333 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 1.22% per year. Prices in 2018 are 12.9% higher than prices in 2008.
In other words, €100 in 2008 is equivalent in purchasing power to €112.90 in 2018, a difference of €12.90 over 10 years.
The current inflation rate is now 1.50%1. If this number holds, €100 today will be equivalent to €101.50 next year.
|Cumulative price change||12.90%|
|Average inflation rate||1.22%|
|Converted amount (€100 base)||€112.90|
|Price difference (€100 base)||€12.90|
|CPI in 2008||91.50833333|
|CPI in 2018||103.31|
This inflation calculator uses the following inflation rate formula:
CPI in 2018 / CPI in 2008 * 2008 EUR value = 2018 EUR value
Then plug in historical CPI values. The Euro CPI was 91.50833333 in the year 2008 and 103.31 in 2018:
103.31 / 91.50833333 * €100 = €112.90
€100 in 2008 has the same "purchasing power" or "buying power" as €112.90 in 2018.
Below are calculations of buying power over time for €100 in 2008 (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|
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: “Inflation Rate in 2008 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/Euro-inflation-rate-in-2008.