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Value of 1998 Colombian Pesos today

$100 in 1998
$403.26 in 2024

The inflation rate in Colombia between 1998 and today has been 303.26%, which translates into a total increase of $303.26. This means that 100 pesos in 1998 are equivalent to 403.26 pesos in 2024. In other words, the purchasing power of $100 in 1998 equals $403.26 today. The average annual inflation rate between these periods has been 5.51%.

Inflation timeline in Colombia (1998 - 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 1998-2023 283%
Cumulative inflation 1998-today 303.26%
Avg. Annual inflation 1998-2023 5.52%
CPI 1998 40.88
CPI 2023 156.58
CPI 2024-02 (latest official data) 164.2
CPI today 164.86

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 1998 and 2023, use the corresponding CPI values:

Value2023
=Value1998 ×
CPI2023/CPI1998
=$ 100 ×
156.58/40.88
$383

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 164.86:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=$ 100 ×
164.86/40.88
$403.26

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 25 years between 1998 and 2023 and the average inflation rate was 5.5184%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.055184)25
$383

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 1998 $3.83 pesos in 2023
$5 pesos in 1998 $19.15 pesos in 2023
$10 pesos in 1998 $38.3 pesos in 2023
$50 pesos in 1998 $191.5 pesos in 2023
$100 pesos in 1998 $383 pesos in 2023
$500 pesos in 1998 $1,915.01 pesos in 2023
$1,000 pesos in 1998 $3,830.02 pesos in 2023
$5,000 pesos in 1998 $19,150.11 pesos in 2023
$10,000 pesos in 1998 $38,300.22 pesos in 2023
$50,000 pesos in 1998 $191,501.11 pesos in 2023
$100,000 pesos in 1998 $383,002.21 pesos in 2023
$500,000 pesos in 1998 $1,915,011.05 pesos in 2023
$1,000,000 pesos in 1998 $3,830,022.11 pesos in 2023
Cumulative inflation From 1998 303.26%
Avg. annual inflation From 1998 5.51%
CPI 1998 40.88
CPI today 164.86

Value of Peso over time (by year)

Period Value
1998 100
1999 110.87
2000 121.1
2001 130.75
2002 139.05
2003 148.97
2004 157.76
2005 165.73
2006 172.85
2007 182.43
2008 195.19
2009 203.4
2010 208.02
2011 215.12
2012 221.94
2013 226.42
2014 232.98
2015 244.61
2016 262.98
2017 274.33
2018 283.22
2019 293.2
2020 300.61
2021 311.11
2022 342.77
2023 383
2024-02 401.64
Today 403.26

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: