20120418 - Referential EUR based on HICP (2011e)

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# Referential EUR

The following table provides the inflator/deflator multiplier for calculating referential euros (rEUR, r€). It is based on the average annual HICP for the euro area, changing composition (European Central Bank, 20111).

The formula for calculating rEUR is the following:

 rEUR = nominal EUR + (nominal EUR * multiplier)
Year HICP A.Avg Base 2010 multiplier
2008 107.8 109.8 0.0186
2009 108.1 109.8 0.0157
2010 109.8 109.8 0.0000
2011 112.8 109.8 -0.0266
2012* 116.2 109.8 -0.0549
2013* 119.7 109.8 -0.0825
2014* 123.3 109.8 -0.1092
2015* 127.0 109.8 -0.1351
2016* 130.8 109.8 -0.1603
2017* 134.7 109.8 -0.1848
2018* 138.7 109.8 -0.2085
2019* 142.9 109.8 -0.2316
2020* 147.2 109.8 -0.2540
2021* 151.6 109.8 -0.2757
(*It assumes a 3% inflation rate for each year after 2011. These multipliers should be substituted with their real inflation values as soon as they are known.)
References
1. EUROPEAN CENTRAL BANK (2011). HICP, other prices and costs. Retrieved from the European Central Bank on 16 April 2012.
2. PEREZGONZALEZ Jose D (2010). Referential EUR based on HICP. Journal of Knowledge Advancement & Integration (ISSN 1177-4576), 2011, pages 118-119.
+++ Footnotes +++
3. The 2011 edition corrects the 2010 edition2, which reported the HICP for 'industry, construction and residential properties prices' instead of the HICP proper. It also includes the official HICP values for 2011.

# Want to know more?

MeasuringWorth
A handy website to learn about different inflation indexes and calculate the value of money according to those indexes.
Wiki of Science - Referential currency
You will find a full explanation for the concept of referential currency (thus, for referential dollars) in this page.

## Author

Jose D PEREZGONZALEZ (2012). Massey University, Turitea Campus, Private Bag 11-222, Palmerston North 4442, New Zealand. ().

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page revision: 3, last edited: 17 Apr 2012 02:40