Euro inflation rate in 2022: 9.90%

Inflation in 2022 and its effect on euro value

€1 in 2021 is equivalent in purchasing power to about €1.10 today. The euro had an average inflation rate of 9.90% in the last 12 months. As a result, the real value of a euro has been decreasing recently. Purchasing power decreased by 9.90% in 2022 compared to 2021. On average, you would have to spend 9.90% more money in 2022 than in 2021 for the same item.

This means that today's prices are 1.10 times higher than average prices since 2021, according to the European Central Bank consumer price index. A euro today only buys 90.909% of what it could buy back then.

The inflation rate in 2021 was 2.66%. The current inflation rate compared to last year is now 9.90%. If this number holds, €1 today will be equivalent in buying power to €1.10 next year.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2022 is 119.82. It was 109.03 in the previous year, 2021. The difference in CPI between the years is used by the European Central Bank to officially determine inflation.


Inflation from 2021 to 2022
Average inflation rate9.90%
Converted amount (€1 base)€1.10
Price difference (€1 base)€0.10
CPI in 2021109.027
CPI in 2022119.821
Inflation in 20212.66%
Inflation in 20229.90%
€1 in 2021€1.10 in 2022

Recent EUR inflation
Annual Rate, the European Central Bank CPI
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How to calculate inflation rate for €1 since 2021

Our calculations use the following inflation rate formula to calculate the change in value between 2021 and today:

CPI today CPI in 2021
×
2021 EUR value
=
Today's value

Then plug in historical CPI values. The Euro CPI was 109.0272727 in the year 2021 and 119.8209726973 in 2022:

119.8209726973109.0272727
×
€1
=
€1.10

€1 in 2021 has the same "purchasing power" or "buying power" as €1.10 in 2022.

To get the total inflation rate for the 1 years between 2021 and 2022, we use the following formula:

CPI in 2022 - CPI in 2021CPI in 2021
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

119.8209726973 - 109.0272727109.0272727
×
100
=
10%

Data source & citation

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 2022 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Dec. 2022, https://www.officialdata.org/Euro-inflation-rate-in-2022.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 2021 to 2022
Average inflation rate9.90%
Converted amount (€1 base)€1.10
Price difference (€1 base)€0.10
CPI in 2021109.027
CPI in 2022119.821
Inflation in 20212.66%
Inflation in 20229.90%
€1 in 2021€1.10 in 2022