Result: €40,000 in 2023 → €26,223.20 in 2004
Value of €40,000 from 2023 to 2004
€40,000 in 2023 is equivalent in purchasing power to about €26,223.20 in 2004, an increase of €-13,776.80 over 19 years. The euro had an average inflation rate of 2.25% per year between 2004 and 2023, producing a cumulative price increase of -34.44%.
This means that prices in 2004 are 34.44% lower than average prices since 2023, according to the OECD and the World Bank consumer price index for the Netherlands.
The inflation rate in 2004 was 1.26%. The inflation rate in 2023 was 4.86%. The 2023 inflation rate is higher compared to the average inflation rate of 1.01% per year between 2023 and 2024.
⌃
| Cumulative price change | -34.44% |
| Average inflation rate | 2.25% |
| Converted amount €40,000 base | €26,223.20 |
| Price difference €40,000 base | €-13,776.80 |
| CPI in 2023 | 127.330 |
| CPI in 2004 | 83.475 |
| Inflation in 2004 | 1.26% |
| Inflation in 2023 | 4.86% |
| €40,000 in 2023 | €26,223.20 in 2004 |
Buying power of €40,000 in 2004
This chart shows a calculation of buying power equivalence for €40,000 in 2004 (price index tracking began in 1959).
For example, if you started with €40,000, you would need to end with €26,223.20 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When €40,000 is equivalent to €26,223.20 over time, that means that the "real value" of a single Netherlandic euro decreases over time. In other words, a euro will pay for fewer items at the store.
This effect explains how inflation erodes the value of a euro over time. By calculating the value in 2004 dollars, the chart below shows how €40,000 is worth less over 19 years.
According to the OECD and the World Bank, each of these EUR amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 2004 amounts in 2023 euros, based on the -34.44% change in prices:
| Initial value | Equivalent value |
|---|---|
| €1 euro in 2004 | €1.53 euros in 2023 |
| €5 euros in 2004 | €7.63 euros in 2023 |
| €10 euros in 2004 | €15.25 euros in 2023 |
| €50 euros in 2004 | €76.27 euros in 2023 |
| €100 euros in 2004 | €152.54 euros in 2023 |
| €500 euros in 2004 | €762.68 euros in 2023 |
| €1,000 euros in 2004 | €1,525.37 euros in 2023 |
| €5,000 euros in 2004 | €7,626.83 euros in 2023 |
| €10,000 euros in 2004 | €15,253.67 euros in 2023 |
| €50,000 euros in 2004 | €76,268.34 euros in 2023 |
| €100,000 euros in 2004 | €152,536.69 euros in 2023 |
| €500,000 euros in 2004 | €762,683.44 euros in 2023 |
| €1,000,000 euros in 2004 | €1,525,366.88 euros in 2023 |
How to calculate inflation rate for €40,000, 2004 to 2023
Our calculations use the following inflation rate formula to calculate the change in value between 2004 and 2023:
CPI in 2004 CPI in 2023
×
2023 EUR value
=
2004 EUR value
Then plug in historical CPI values. The Netherlandic CPI was 127.33 in the year 2023 and 83.475 in 2004:
83.475127.33
×
€40,000
=
€26,223.20
€40,000 in 2023 has the same "purchasing power" or "buying power" as €26,223.20 in 2004.
To get the total inflation rate for the 19 years between 2004 and 2023, we use the following formula:
CPI in 2004 - CPI in 2023CPI in 2023
×
100
=
Cumulative inflation rate (19 years)
Plugging in the values to this equation, we get:
83.475 - 127.33127.33
×
100
=
-34%
Data source & citation
You may use the following MLA citation for this page: “€40,000 in 2023 → 2004 | the Netherlands Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 May. 2024, https://www.officialdata.org/netherlands/inflation/2023?endYear=2004&amount=40000.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | -34.44% |
| Average inflation rate | 2.25% |
| Converted amount €40,000 base | €26,223.20 |
| Price difference €40,000 base | €-13,776.80 |
| CPI in 2023 | 127.330 |
| CPI in 2004 | 83.475 |
| Inflation in 2004 | 1.26% |
| Inflation in 2023 | 4.86% |
| €40,000 in 2023 | €26,223.20 in 2004 |