₽1,000,000 in 2007

₽1,695,895.2 in 2013

The inflation rate in Russia between 2007 and 2013 was 69.59%, which translates into a total increase of ₽695,895.2. This means that **1,000,000 rubles in 2007 are equivalent to 1,695,895.2 rubles in 2013**. In other words, the purchasing power of ₽1,000,000 in 2007 equals ₽1,695,895.2 in 2013. The average annual inflation rate between these periods was 9.2%.

The following chart depicts the equivalence of ₽1,000,000 throughout the years due to 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 (RUB) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability.

The following table contains relevant indicators:

Indicator | Value |
---|---|

Total Inflation (2007-2013) | 69.59% |

Annual inflation avg. (2007-2013) | 9.2% |

CPI 2007 | 45.64 |

CPI 2013 | 77.4 |

₽1 in 2007 | ₽1.7 in 2013 |

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: **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, the future value is the amount in 2013 that equals ₽1,000,000 in 2007 in terms of purchasing power. There are 6 years between 2007 and 2013 and the average inflation rate was 9.2026%. Therefore, we can resolve the formula like this:

**FV = PV (1 + i) ^{n} = ₽1000000 * (1 + 0.092026)^{6} = ₽1,695,895.198612 ≈ ₽1,695,895.2**

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *

CPI finalCPI initial

In this case, the CPI in 2007 was 45.64 and in 2013 was 77.4. Therefore,

Final value = Initial value *

CPI finalCPI initial

= ₽1,000,000 *
77.445.64

= ₽1,695,895.2
Initial Value | Equivalent value | |
---|---|---|

₽1 ruble in 2007 | ₽1.7 rubles in 2013 | |

₽5 rubles in 2007 | ₽8.48 rubles in 2013 | |

₽10 rubles in 2007 | ₽16.96 rubles in 2013 | |

₽50 rubles in 2007 | ₽84.79 rubles in 2013 | |

₽100 rubles in 2007 | ₽169.59 rubles in 2013 | |

₽500 rubles in 2007 | ₽847.95 rubles in 2013 | |

₽1,000 rubles in 2007 | ₽1,695.9 rubles in 2013 | |

₽5,000 rubles in 2007 | ₽8,479.48 rubles in 2013 | |

₽10,000 rubles in 2007 | ₽16,958.95 rubles in 2013 | |

₽50,000 rubles in 2007 | ₽84,794.76 rubles in 2013 | |

₽100,000 rubles in 2007 | ₽169,589.52 rubles in 2013 | |

₽500,000 rubles in 2007 | ₽847,947.6 rubles in 2013 | |

₽1,000,000 rubles in 2007 | ₽1,695,895.2 rubles in 2013 |

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