# Inflation calculator - Costa Rican Colon

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

₡100 in 1977

₡21,033.59 in 2021

The inflation rate in Costa Rica between 1977 and 2021 was 20,933.59%, which translates into a total increase of ₡20,933.59. This means that 100 colones in 1977 are equivalent to 21,033.59 colones in 2021. In other words, the purchasing power of ₡100 in 1977 equals ₡21,033.59 in 2021. The average annual inflation rate between these periods was 12.93%.

## Inflation timeline in Costa Rica (1977 - 2021)

The following chart depicts the equivalence of costa rican colones throughout the years 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 (CRC) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1977-2021) 20,933.59%
Annual inflation avg. (1977-2021) 12.93%
CPI 1977 0.51
CPI 2021 107.56
₡1 in 1977 ₡210.34 in 2021

## How to calculate the time value of money with inflation data?

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 with 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, the future value is the amount in 2021 that equals ₡100 in 1977 in terms of purchasing power. There are 44 years between 1977 and 2021 and the average inflation rate was 12.9259%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.129259)44 = ₡21,033.591327 ≈ ₡21,033.59

#### 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 1977 was 0.51 and in 2021 was 107.56. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
107.56/0.51
= ₡21,033.59

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1977 ₡210.34 colones in 2021
₡5 colones in 1977 ₡1,051.68 colones in 2021
₡10 colones in 1977 ₡2,103.36 colones in 2021
₡50 colones in 1977 ₡10,516.8 colones in 2021
₡100 colones in 1977 ₡21,033.59 colones in 2021
₡500 colones in 1977 ₡105,167.96 colones in 2021
₡1,000 colones in 1977 ₡210,335.91 colones in 2021
₡5,000 colones in 1977 ₡1,051,679.57 colones in 2021
₡10,000 colones in 1977 ₡2,103,359.13 colones in 2021
₡50,000 colones in 1977 ₡10,516,795.66 colones in 2021
₡100,000 colones in 1977 ₡21,033,591.33 colones in 2021
₡500,000 colones in 1977 ₡105,167,956.64 colones in 2021
₡1,000,000 colones in 1977 ₡210,335,913.27 colones in 2021

Period Value
1977 100
1978 105.3
1979 113.75
1980 128.68
1981 151.67
1982 250.29
1983 455.01
1984 503.73
1985 591.16
1986 655.8
1987 756.78
1988 881.14
1989 1,104.52
1990 1,214.34
1991 1,545.38
1992 1,936.54
1993 2,265.23
1994 2,469.94
1995 2,960.51
1996 3,628.68
1997 4,132.61
1998 4,595.48
1999 5,163.26
2000 5,685.46
2001 6,268.17
2002 6,954.81
2003 7,628.29
2004 8,380.94
2005 9,481.34
2006 10,815.91
2007 11,836.15
2008 13,115.13
2009 14,938.51
2010 15,543.03
2011 16,448.33
2012 17,227.31
2013 18,011.2
2014 18,673.87
2015 19,631.23
2016 19,472.8
2017 19,621.79
2018 20,126.89
2019 20,534.9
2020 20,847.55
2021 21,033.59