Value of 1988 Costa Rican Colones today

₡100 in 1988

₡2,332.99 in 2019

The inflation rate in Costa Rica between 1988 and today has been 2,232.99%, which translates into a total increase of ₡2,232.99. This means that 100 colones in 1988 are equivalent to 2,332.99 colones in 2019. In other words, the purchasing power of ₡100 in 1988 equals ₡2,332.99 today. The average annual inflation rate has been 10.34%.

Inflation timeline in Costa Rica (1988-2019)

The following chart depicts the equivalence of ₡100 throughout the years due to 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. 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 (1988-2019) 2,230.49%
Total Inflation* 2,232.99%
Annual inflation avg. (1988-2019) 10.69%
Annual inflation avg.* 10.34%
CPI 1988 4.51
CPI 2019 105.01
CPI today* 105.12
₡1 in 1988 ₡23.3 in 2019

* 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 31 years between 1988 and 2019 and the average inflation rate has been 10.3436%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.1)31 = ₡2,330.49

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 1988 was 4.51 and the CPI today is 105.12. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
105.01/4.51
= ₡2,330.49

Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1988 ₡23.33 colones today
₡5 colones in 1988 ₡116.65 colones today
₡10 colones in 1988 ₡233.3 colones today
₡50 colones in 1988 ₡1,166.49 colones today
₡100 colones in 1988 ₡2,332.99 colones today
₡500 colones in 1988 ₡11,664.94 colones today
₡1,000 colones in 1988 ₡23,329.87 colones today
₡5,000 colones in 1988 ₡116,649.37 colones today
₡10,000 colones in 1988 ₡233,298.73 colones today
₡50,000 colones in 1988 ₡1,166,493.67 colones today
₡100,000 colones in 1988 ₡2,332,987.35 colones today
₡500,000 colones in 1988 ₡11,664,936.73 colones today
₡1,000,000 colones in 1988 ₡23,329,873.46 colones today

Value of Colon in time (by year)

Period Value
1988 100
1989 125.35
1990 137.81
1991 175.38
1992 219.78
1993 257.08
1994 280.31
1995 335.99
1996 411.82
1997 469.01
1998 521.54
1999 585.98
2000 645.24
2001 711.37
2002 789.3
2003 865.73
2004 951.15
2005 1,076.03
2006 1,227.49
2007 1,343.28
2008 1,488.43
2009 1,695.36
2010 1,763.97
2011 1,866.71
2012 1,955.12
2013 2,044.08
2014 2,119.29
2015 2,227.94
2016 2,209.96
2017 2,226.87
2018 2,284.19
2019 2,330.49
Today 2,332.99