Value of 1996 Colombian Pesos today

$100 in 1996

$458.62 today

The inflation rate in Colombia between 1996 and today has been 358.62%, which translates into a total increase of $358.62. This means that 100 pesos in 1996 are equivalent to 458.62 pesos in 2018. In other words, the purchasing power of $100 in 1996 equals $458.62 today. The average annual inflation rate has been 6.85%.

Inflation timeline in Colombia (1996-2019)

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 (1996-2018) 344.46%
Total Inflation* 358.62%
Annual inflation avg. (1996-2018) 7.02%
Annual inflation avg.* 6.85%
CPI 1996 25.49
CPI 2018 113.27
CPI today* 116.88
$1 in 1996 $4.44 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 22 years between 1996 and 2018 and the average inflation rate has been 6.8461%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.07)22 = $444.46

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 1996 was 25.49 and the CPI today is 116.88. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
113.27/25.49
= $444.46

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 1996 $4.59 pesos today
$5 pesos in 1996 $22.93 pesos today
$10 pesos in 1996 $45.86 pesos today
$50 pesos in 1996 $229.31 pesos today
$100 pesos in 1996 $458.62 pesos today
$500 pesos in 1996 $2,293.09 pesos today
$1,000 pesos in 1996 $4,586.17 pesos today
$5,000 pesos in 1996 $22,930.85 pesos today
$10,000 pesos in 1996 $45,861.71 pesos today
$50,000 pesos in 1996 $229,308.53 pesos today
$100,000 pesos in 1996 $458,617.06 pesos today
$500,000 pesos in 1996 $2,293,085.29 pesos today
$1,000,000 pesos in 1996 $4,586,170.58 pesos today

Value of Peso in time (by year)

Period Value
1996 100
1997 121.64
1998 143.15
1999 167.03
2000 182.46
2001 198.43
2002 213.6
2003 228.55
2004 243.37
2005 256.75
2006 269.21
2007 281.27
2008 297.28
2009 320.1
2010 326.5
2011 336.88
2012 349.42
2013 357.94
2014 364.85
2015 378.2
2016 403.81
2017 427.02
2018 444.46
Today 458.62