Value of 1993 Euro (Finland) today - Inflation Calculator

€100 in 1993

€170.47 in 2024

The inflation rate in Finland between 1993 and today has been 70.47%, which translates into a total increase of €70.47. This means that 100 euro in 1993 are equivalent to 170.47 euro in 2024. In other words, the purchasing power of €100 in 1993 equals €170.47 today. The average annual inflation rate between these periods has been 1.74%.

Inflation timeline in Finland (1993 - 2024)

The following chart depicts the equivalence of €100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (EUR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation 1993-2023	66.94%
Cumulative inflation 1993-today	70.47%
Avg. Annual inflation 1993-2023	1.72%
CPI 1993	72.15
CPI 2023	120.45
CPI 2024-10 (latest official data)	122.92
CPI today	123

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1993 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₃ ×

CPI₂₀₂₃/CPI₁₉₉₃

=€ 100 ×

120.45/72.15

≈€166.94

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 123:

Value_today

=Value₁₉₉₃ ×

CPI_today/CPI₁₉₉₃

=€ 100 ×

123/72.15

≈€170.47

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)ⁿ, where:

FV: Future Value
PV: Present Value
i: Interest rate (inflation)
n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are €100 worth today. There are 30 years between 1993 and 2023 and the average inflation rate was 1.7228%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=€100 × (1 + 0.017228)³⁰

≈€166.94

Finland inflation - Conversion table

Initial Value		Equivalent value
€1 euro in 1993	→	€1.67 euro in 2023
€5 euro in 1993	→	€8.35 euro in 2023
€10 euro in 1993	→	€16.69 euro in 2023
€50 euro in 1993	→	€83.47 euro in 2023
€100 euro in 1993	→	€166.94 euro in 2023
€500 euro in 1993	→	€834.68 euro in 2023
€1,000 euro in 1993	→	€1,669.35 euro in 2023
€5,000 euro in 1993	→	€8,346.76 euro in 2023
€10,000 euro in 1993	→	€16,693.52 euro in 2023
€50,000 euro in 1993	→	€83,467.59 euro in 2023
€100,000 euro in 1993	→	€166,935.17 euro in 2023
€500,000 euro in 1993	→	€834,675.86 euro in 2023
€1,000,000 euro in 1993	→	€1,669,351.73 euro in 2023

Cumulative inflation From 1993	70.47%
Avg. annual inflation From 1993	1.74%
CPI 1993	72.15
CPI today	123

Value of Euro over time (by year)

Period	Value
1993	100
1994	101.09
1995	101.89
1996	102.53
1997	103.75
1998	105.2
1999	106.43
2000	109.66
2001	112.49
2002	114.26
2003	115.26
2004	115.48
2005	116.2
2006	118.02
2007	120.98
2008	125.9
2009	125.9
2010	127.39
2011	131.74
2012	135.44
2013	137.45
2014	138.88
2015	138.59
2016	139.08
2017	140.13
2018	141.65
2019	143.1
2020	143.52
2021	146.67
2022	157.11
2023	166.94
2024-10	170.36
Today	170.47