Value of 1989 Euro (Italy) today - Inflation Calculator

€100 in 1989

€248.61 in 2024

The inflation rate in Italy between 1989 and today has been 148.61%, which translates into a total increase of €148.61. This means that 100 euro in 1989 are equivalent to 248.61 euro in 2024. In other words, the purchasing power of €100 in 1989 equals €248.61 today. The average annual inflation rate between these periods has been 2.64%.

Inflation timeline in Italy (1989 - 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 1989-2023	145.21%
Cumulative inflation 1989-today	148.61%
Avg. Annual inflation 1989-2023	2.67%
CPI 1989	48.78
CPI 2023	119.61
CPI 2024-10 (latest official data)	121.2
CPI today	121.27

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 1989 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₈₉ ×

CPI₂₀₂₃/CPI₁₉₈₉

=€ 100 ×

119.61/48.78

≈€245.21

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.27:

Value_today

=Value₁₉₈₉ ×

CPI_today/CPI₁₉₈₉

=€ 100 ×

121.27/48.78

≈€248.61

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 34 years between 1989 and 2023 and the average inflation rate was 2.6732%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=€100 × (1 + 0.026732)³⁴

≈€245.21

Italy inflation - Conversion table

Initial Value		Equivalent value
€1 euro in 1989	→	€2.45 euro in 2023
€5 euro in 1989	→	€12.26 euro in 2023
€10 euro in 1989	→	€24.52 euro in 2023
€50 euro in 1989	→	€122.6 euro in 2023
€100 euro in 1989	→	€245.21 euro in 2023
€500 euro in 1989	→	€1,226.04 euro in 2023
€1,000 euro in 1989	→	€2,452.08 euro in 2023
€5,000 euro in 1989	→	€12,260.39 euro in 2023
€10,000 euro in 1989	→	€24,520.78 euro in 2023
€50,000 euro in 1989	→	€122,603.91 euro in 2023
€100,000 euro in 1989	→	€245,207.81 euro in 2023
€500,000 euro in 1989	→	€1,226,039.06 euro in 2023
€1,000,000 euro in 1989	→	€2,452,078.11 euro in 2023

Cumulative inflation From 1989	148.61%
Avg. annual inflation From 1989	2.64%
CPI 1989	48.78
CPI today	121.27

Value of Euro over time (by year)

Period	Value
1989	100
1990	106.46
1991	113.11
1992	119.07
1993	124.58
1994	129.63
1995	136.42
1996	141.88
1997	144.78
1998	147.61
1999	150.07
2000	153.87
2001	158.16
2002	162.06
2003	166.39
2004	170.06
2005	173.44
2006	177.06
2007	180.3
2008	186.34
2009	187.78
2010	190.65
2011	195.95
2012	201.91
2013	204.37
2014	204.87
2015	204.95
2016	204.75
2017	207.26
2018	209.62
2019	210.9
2020	210.61
2021	214.56
2022	232.16
2023	245.21
2024-10	248.47
Today	248.61