Value of 1994 Euro (Italy) today - Inflation Calculator

€100 in 1994

€191.78 in 2024

The inflation rate in Italy between 1994 and today has been 91.78%, which translates into a total increase of €91.78. This means that 100 euro in 1994 are equivalent to 191.78 euro in 2024. In other words, the purchasing power of €100 in 1994 equals €191.78 today. The average annual inflation rate between these periods has been 2.19%.

Inflation timeline in Italy (1994 - 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 1994-2023	89.16%
Cumulative inflation 1994-today	91.78%
Avg. Annual inflation 1994-2023	2.22%
CPI 1994	63.23
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 1994 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₄ ×

CPI₂₀₂₃/CPI₁₉₉₄

=€ 100 ×

119.61/63.23

≈€189.16

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

Value_today

=Value₁₉₉₄ ×

CPI_today/CPI₁₉₉₄

=€ 100 ×

121.27/63.23

≈€191.78

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 29 years between 1994 and 2023 and the average inflation rate was 2.2224%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=€100 × (1 + 0.022224)²⁹

≈€189.16

Italy inflation - Conversion table

Initial Value		Equivalent value
€1 euro in 1994	→	€1.89 euro in 2023
€5 euro in 1994	→	€9.46 euro in 2023
€10 euro in 1994	→	€18.92 euro in 2023
€50 euro in 1994	→	€94.58 euro in 2023
€100 euro in 1994	→	€189.16 euro in 2023
€500 euro in 1994	→	€945.81 euro in 2023
€1,000 euro in 1994	→	€1,891.62 euro in 2023
€5,000 euro in 1994	→	€9,458.09 euro in 2023
€10,000 euro in 1994	→	€18,916.17 euro in 2023
€50,000 euro in 1994	→	€94,580.86 euro in 2023
€100,000 euro in 1994	→	€189,161.72 euro in 2023
€500,000 euro in 1994	→	€945,808.61 euro in 2023
€1,000,000 euro in 1994	→	€1,891,617.22 euro in 2023

Cumulative inflation From 1994	91.78%
Avg. annual inflation From 1994	2.19%
CPI 1994	63.23
CPI today	121.27

Value of Euro over time (by year)

Period	Value
1994	100
1995	105.24
1996	109.45
1997	111.69
1998	113.87
1999	115.77
2000	118.7
2001	122.01
2002	125.02
2003	128.36
2004	131.19
2005	133.8
2006	136.59
2007	139.09
2008	143.75
2009	144.86
2010	147.07
2011	151.16
2012	155.76
2013	157.66
2014	158.04
2015	158.1
2016	157.95
2017	159.89
2018	161.71
2019	162.7
2020	162.47
2021	165.52
2022	179.09
2023	189.16
2024-10	191.68
Today	191.78