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Value of 1997 Colombian Pesos today

$100 in 1997
$471.77 in 2024

The inflation rate in Colombia between 1997 and today has been 371.77%, which translates into a total increase of $371.77. This means that 100 pesos in 1997 are equivalent to 471.77 pesos in 2024. In other words, the purchasing power of $100 in 1997 equals $471.77 today. The average annual inflation rate between these periods has been 5.91%.

Inflation timeline in Colombia (1997 - 2024)

The following chart depicts the equivalence of $100 due to compound 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1997-2023 354.54%
Cumulative inflation 1997-today 371.77%
Avg. Annual inflation 1997-2023 6%
CPI 1997 34.45
CPI 2023 156.58
CPI 2023-12 (latest official data) 160.96
CPI today 162.52

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 Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1997 and 2023, use the corresponding CPI values:

Value2023
=Value1997 ×
CPI2023/CPI1997
=$ 100 ×
156.58/34.45
$454.54

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 162.52:

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=$ 100 ×
162.52/34.45
$471.77

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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 26 years between 1997 and 2023 and the average inflation rate was 5.9964%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.059964)26
$454.54

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 1997 $4.55 pesos in 2023
$5 pesos in 1997 $22.73 pesos in 2023
$10 pesos in 1997 $45.45 pesos in 2023
$50 pesos in 1997 $227.27 pesos in 2023
$100 pesos in 1997 $454.54 pesos in 2023
$500 pesos in 1997 $2,272.68 pesos in 2023
$1,000 pesos in 1997 $4,545.35 pesos in 2023
$5,000 pesos in 1997 $22,726.77 pesos in 2023
$10,000 pesos in 1997 $45,453.54 pesos in 2023
$50,000 pesos in 1997 $227,267.71 pesos in 2023
$100,000 pesos in 1997 $454,535.43 pesos in 2023
$500,000 pesos in 1997 $2,272,677.13 pesos in 2023
$1,000,000 pesos in 1997 $4,545,354.26 pesos in 2023
Cumulative inflation From 1997 371.77%
Avg. annual inflation From 1997 5.91%
CPI 1997 34.45
CPI today 162.52

Value of Peso over time (by year)

Period Value
1997 100
1998 118.68
1999 131.58
2000 143.72
2001 155.17
2002 165.02
2003 176.79
2004 187.23
2005 196.68
2006 205.13
2007 216.5
2008 231.65
2009 241.39
2010 246.87
2011 255.3
2012 263.39
2013 268.7
2014 276.49
2015 290.29
2016 312.1
2017 325.57
2018 336.12
2019 347.96
2020 356.75
2021 369.22
2022 406.79
2023 454.54
2023-12 467.25
Today 471.77

All available years

Today's value of colombian pesos by year:

1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

Other currencies: