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Value of 2002 Colombian Pesos today

$100 in 2002
$243.48 in 2022

The inflation rate in Colombia between 2002 and today has been 143.48%, which translates into a total increase of $143.48. This means that 100 pesos in 2002 are equivalent to 243.48 pesos in 2022. In other words, the purchasing power of $100 in 2002 equals $243.48 today. The average annual inflation rate between these periods has been 4.55%.

Inflation timeline in Colombia (2002 - 2022)

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 2002-2021 123.73%
Cumulative inflation 2002-today 143.48%
Avg. Annual inflation 2002-2021 4.33%
CPI 2002 56.85
CPI 2021 127.19
CPI 2022-04 (latest official data) 137.58
CPI today 138.41

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 2002 and 2021, use the corresponding CPI values:

Value2021
=Value2002 ×
CPI2021/CPI2002
=$ 100 ×
127.19/56.85
$223.73

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 138.41:

Valuetoday
=Value2002 ×
CPItoday/CPI2002
=$ 100 ×
138.41/56.85
$243.48

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 19 years between 2002 and 2021 and the average inflation rate was 4.3294%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.043294)19
$223.73

Colombia inflation - Conversion table

Initial Value Equivalent value
$1 peso in 2002 $2.24 pesos in 2021
$5 pesos in 2002 $11.19 pesos in 2021
$10 pesos in 2002 $22.37 pesos in 2021
$50 pesos in 2002 $111.87 pesos in 2021
$100 pesos in 2002 $223.73 pesos in 2021
$500 pesos in 2002 $1,118.65 pesos in 2021
$1,000 pesos in 2002 $2,237.31 pesos in 2021
$5,000 pesos in 2002 $11,186.54 pesos in 2021
$10,000 pesos in 2002 $22,373.08 pesos in 2021
$50,000 pesos in 2002 $111,865.42 pesos in 2021
$100,000 pesos in 2002 $223,730.83 pesos in 2021
$500,000 pesos in 2002 $1,118,654.15 pesos in 2021
$1,000,000 pesos in 2002 $2,237,308.3 pesos in 2021
Cumulative inflation From 2002 143.48%
Avg. annual inflation From 2002 4.55%
CPI 2002 56.85
CPI today 138.41

Value of Peso over time (by year)

Period Value
2002 100
2003 107.13
2004 113.45
2005 119.18
2006 124.3
2007 131.19
2008 140.37
2009 146.27
2010 149.59
2011 154.71
2012 159.61
2013 162.83
2014 167.55
2015 175.91
2016 189.12
2017 197.28
2018 203.67
2019 210.85
2020 216.18
2021 223.73
2022-04 242.01
Today 243.48

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 |

Other currencies: