20130525 - Referential EUR based on HICP (euro area, 2012e)

[Technology] (Note: A newer edition of this article exists)
[<Normal page] [PEREZGONZALEZ Jose D (2012). Referential EUR based on HICP (2012e)³. Knowledge (ISSN 2324-1624), 2013, pages 92-93, doi:10.6084/m9.figshare.706372

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, 2012¹).

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	115.6	109.8	-0.0502
2013*	119.1	109.8	-0.0778
2014*	122.6	109.8	-0.1047
2015*	126.3	109.8	-0.1308
2016*	130.1	109.8	-0.1561
2017*	134.0	109.8	-0.1807
2018*	138.0	109.8	-0.2045
2019*	142.2	109.8	-0.2277
2020*	146.4	109.8	-0.2502
2021*	150.8	109.8	-0.2720
(It assumes a 3% inflation rate for each year after 2012. These multipliers should be substituted with their real inflation values as soon as they are known.)*

References

1. EUROPEAN CENTRAL BANK (2012). 5.1 HICP, other prices and costs. In Monthly Bulletin - Euro Area Statistics Online, 02-05-2013, S47. Retrieved from the European Central Bank on 3 May 2013.

2. PEREZGONZALEZ Jose D (2011). Referential EUR based on HICP (2011e). Journal of Knowledge Advancement & Integration (ISSN 1177-4576), 2012, pages 128-129.

+++ Footnotes +++

3. The 2012 edition updates the 2011 edition² with the official HICP values for that year.

Want to know more?

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