The consumer price index (CPI) in 2016 was 100.2416667. It was 100 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 1.52% per year. Prices in 2018 are 3.1% higher than prices in 2016.
In other words, €100 in 2016 is equivalent in purchasing power to €103.06 in 2018, a difference of €3.06 over 2 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||3.06%|
|Average inflation rate||1.52%|
|Converted amount (€100 base)||€103.06|
|Price difference (€100 base)||€3.06|
|CPI in 2016||100.2416667|
|CPI in 2018||103.31|
This inflation calculator uses the following inflation rate formula:
CPI in 2018 / CPI in 2016 * 2016 EUR value = 2018 EUR value
Then plug in historical CPI values. The Euro CPI was 100.2416667 in the year 2016 and 103.31 in 2018:
103.31 / 100.2416667 * €100 = €103.06
€100 in 2016 has the same "purchasing power" or "buying power" as €103.06 in 2018.
Below are calculations of buying power over time for €100 in 2016 (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 2016 | Euro Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/Euro-inflation-rate-in-2016.