Result: €8,061 in 2004 → €11,719.74 in 2024
Value of €8,061 from 2004 to 2024
Updated: December 11, 2024€8,061 in 2004 is equivalent in purchasing power to about €11,719.74 today, an increase of €3,658.74 over 20 years. The euro had an average inflation rate of 1.89% per year between 2004 and today, producing a cumulative price increase of 45.39%.
This means that today's prices are 1.45 times as high as average prices since 2004, according to the OECD and the World Bank consumer price index for Italy. A euro today only buys 68.781% of what it could buy back then.
The inflation rate in 2004 was 2.21%. The current inflation rate compared to the end of last year is now 0.76%. If this number holds, €8,061 today will be equivalent in buying power to €8,121.92 next year.
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| Cumulative price change | 45.39% |
| Average inflation rate | 1.89% |
| Converted amount €8,061 base | €11,719.74 |
| Price difference €8,061 base | €3,658.74 |
| CPI in 2004 | 82.954 |
| CPI in 2024 | 120.605 |
| Inflation in 2004 | 2.21% |
| Inflation in 2024 | 0.76% |
| €8,061 in 2004 | €11,719.74 in 2024 |
Buying power of €8,061 in 2004
This chart shows a calculation of buying power equivalence for €8,061 in 2004 (price index tracking began in 1955).
For example, if you started with €8,061, you would need to end with €11,719.74 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When €8,061 is equivalent to €11,719.74 over time, that means that the "real value" of a single Italian 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 €8,061 is worth less over 20 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 today's euros, based on the 45.39% change in prices:
| Initial value | Equivalent value |
|---|---|
| €1 euro in 2004 | €1.45 euros today |
| €5 euros in 2004 | €7.27 euros today |
| €10 euros in 2004 | €14.54 euros today |
| €50 euros in 2004 | €72.69 euros today |
| €100 euros in 2004 | €145.39 euros today |
| €500 euros in 2004 | €726.94 euros today |
| €1,000 euros in 2004 | €1,453.88 euros today |
| €5,000 euros in 2004 | €7,269.41 euros today |
| €10,000 euros in 2004 | €14,538.82 euros today |
| €50,000 euros in 2004 | €72,694.11 euros today |
| €100,000 euros in 2004 | €145,388.23 euros today |
| €500,000 euros in 2004 | €726,941.13 euros today |
| €1,000,000 euros in 2004 | €1,453,882.26 euros today |
How to calculate inflation rate for €8,061 since 2004
Our calculations use the following inflation rate formula to calculate the change in value between 2004 and today:
CPI today CPI in 2004
×
2004 EUR value
=
Today's value
Then plug in historical CPI values. The Italian CPI was 82.9535 in the year 2004 and 120.60462184873948 in 2024:
120.6046218487394882.9535
×
€8,061
=
€11,719.74
€8,061 in 2004 has the same "purchasing power" or "buying power" as €11,719.74 in 2024.
To get the total inflation rate for the 20 years between 2004 and 2024, we use the following formula:
CPI in 2024 - CPI in 2004CPI in 2004
×
100
=
Cumulative inflation rate (20 years)
Plugging in the values to this equation, we get:
120.60462184873948 - 82.953582.9535
×
100
=
45%
Data source & citation
You may use the following MLA citation for this page: “€8,061 in 2004 → 2024 | Italy Inflation Calculator.” Official Inflation Data, Alioth Finance, 10 Jan. 2025, https://www.officialdata.org/italy/inflation/2004?amount=8061.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 45.39% |
| Average inflation rate | 1.89% |
| Converted amount €8,061 base | €11,719.74 |
| Price difference €8,061 base | €3,658.74 |
| CPI in 2004 | 82.954 |
| CPI in 2024 | 120.605 |
| Inflation in 2004 | 2.21% |
| Inflation in 2024 | 0.76% |
| €8,061 in 2004 | €11,719.74 in 2024 |