Value of 1971 Colombian Pesos today

$100 in 1971

$84,277.66 today

The inflation rate in Colombia between 1971 and today has been 84,177.66%, which translates into a total increase of $84,177.66. This means that 100 pesos in 1971 are equivalent to 84,277.66 pesos in 2018. In other words, the purchasing power of $100 in 1971 equals $84,277.66 today. The average annual inflation rate has been 15.07%.

Inflation timeline in Colombia (1971-2019)

The following chart ilustrates the equivalence of $100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (COP) 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. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1971-2018) 81,576.52%
Total Inflation* 84,177.66%
Annual inflation avg. (1971-2018) 15.33%
Annual inflation avg.* 15.07%
CPI 1971 0.14
CPI 2018 113.27
CPI today* 116.88
$1 in 1971 $816.77 in 2018

* Values extrapolated from the last official data to obtain today's values.

How to calculate today's value of money after inflation?

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.

Using the compound interest formula

Given that money changes in 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, it indicates how much are $100 worth today. There are 47 years between 1971 and 2018 and the average inflation rate has been 15.0674%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.15)47 = $81,676.52

Using the CPI formula

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

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1971 was 0.14 and the CPI today is 116.88. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
113.27/0.14
= $81,676.52

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 1971 $842.78 pesos today
$5 pesos in 1971 $4,213.88 pesos today
$10 pesos in 1971 $8,427.77 pesos today
$50 pesos in 1971 $42,138.83 pesos today
$100 pesos in 1971 $84,277.66 pesos today
$500 pesos in 1971 $421,388.31 pesos today
$1,000 pesos in 1971 $842,776.62 pesos today
$5,000 pesos in 1971 $4,213,883.11 pesos today
$10,000 pesos in 1971 $8,427,766.23 pesos today
$50,000 pesos in 1971 $42,138,831.13 pesos today
$100,000 pesos in 1971 $84,277,662.27 pesos today
$500,000 pesos in 1971 $421,388,311.35 pesos today
$1,000,000 pesos in 1971 $842,776,622.7 pesos today

Value of Peso in time (by year)

Period Value
1971 100
1972 117.65
1973 129.41
1974 164.71
1975 205.88
1976 241.18
1977 305.88
1978 394.12
1979 470.59
1980 600
1981 758.82
1982 958.82
1983 1,188.24
1984 1,388.24
1985 1,641.18
1986 2,011.77
1987 2,429.41
1988 3,011.77
1989 3,864.71
1990 4,870.59
1991 6,447.06
1992 8,176.47
1993 10,235.3
1994 12,547.06
1995 15,382.36
1996 18,376.48
1997 22,352.95
1998 26,305.89
1999 30,694.13
2000 33,529.42
2001 36,464.72
2002 39,252.95
2003 42,000.02
2004 44,723.54
2005 47,182.36
2006 49,470.6
2007 51,688.25
2008 54,629.42
2009 58,823.55
2010 60,000.02
2011 61,905.9
2012 64,211.79
2013 65,776.49
2014 67,047.08
2015 69,500.02
2016 74,205.92
2017 78,470.62
2018 81,676.52
Today 84,277.66