This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.
The inflation rate in Latvia between 1991 and 2023 was 13,578.69%, which translates into a total increase of €13,578.69. This means that 100 euro in 1991 are equivalent to 13,678.69 euro in 2023. In other words, the purchasing power of €100 in 1991 equals €13,678.69 in 2023. The average annual inflation rate between these periods was 16.61%.
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.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Cumulative inflation from 1991 to 2023 | 13,578.69% |
| Avg. Annual inflation from 1991 to 2023 | 16.61% |
| CPI 1991 | 1.05 |
| CPI 2023 | 143.72 |
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.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 1991 and 2023, use the corresponding CPI values:
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:
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 32 years between 1991 and 2023 and the average inflation rate was 16.6142%. Therefore, we can resolve the formula like this:
| Initial Value | Equivalent value | |
|---|---|---|
| €1 euro in 1991 | → | €136.79 euro in 2023 |
| €5 euro in 1991 | → | €683.93 euro in 2023 |
| €10 euro in 1991 | → | €1,367.87 euro in 2023 |
| €50 euro in 1991 | → | €6,839.35 euro in 2023 |
| €100 euro in 1991 | → | €13,678.69 euro in 2023 |
| €500 euro in 1991 | → | €68,393.47 euro in 2023 |
| €1,000 euro in 1991 | → | €136,786.95 euro in 2023 |
| €5,000 euro in 1991 | → | €683,934.75 euro in 2023 |
| €10,000 euro in 1991 | → | €1,367,869.5 euro in 2023 |
| €50,000 euro in 1991 | → | €6,839,347.49 euro in 2023 |
| €100,000 euro in 1991 | → | €13,678,694.98 euro in 2023 |
| €500,000 euro in 1991 | → | €68,393,474.92 euro in 2023 |
| €1,000,000 euro in 1991 | → | €136,786,949.84 euro in 2023 |
| Cumulative inflation 1991-2023 | 13,578.69% |
| Avg. annual inflation 1991-2023 | 16.61% |
| CPI 1991 | 1.05 |
| CPI 2023 | 143.72 |
| Period | Value |
|---|---|
| 1991 | 100 |
| 1992 | 1,051.7 |
| 1993 | 2,197.94 |
| 1994 | 2,987.54 |
| 1995 | 3,733.7 |
| 1996 | 4,391.23 |
| 1997 | 4,762.17 |
| 1998 | 4,983.34 |
| 1999 | 5,101.18 |
| 2000 | 5,236.58 |
| 2001 | 5,366.82 |
| 2002 | 5,470.87 |
| 2003 | 5,631.86 |
| 2004 | 5,980.61 |
| 2005 | 6,384.21 |
| 2006 | 6,801.49 |
| 2007 | 7,487.96 |
| 2008 | 8,641.28 |
| 2009 | 8,946.67 |
| 2010 | 8,849.63 |
| 2011 | 9,236.43 |
| 2012 | 9,444.97 |
| 2013 | 9,442.19 |
| 2014 | 9,500.78 |
| 2015 | 9,517.33 |
| 2016 | 9,530.71 |
| 2017 | 9,810 |
| 2018 | 10,058.63 |
| 2019 | 10,341.42 |
| 2020 | 10,364.08 |
| 2021 | 10,703.58 |
| 2022 | 12,556.4 |
| 2023 | 13,678.69 |
All available years
Today's value of euro (Latvia) by year:
1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Other currencies: