# Value of 1993 Costa Rican Colones today

₡100 in 1993

₡920.6 in 2020

The inflation rate in Costa Rica between 1993 and today has been 820.6%, which translates into a total increase of ₡820.6. This means that 100 colones in 1993 are equivalent to 920.6 colones in 2020. In other words, the purchasing power of ₡100 in 1993 equals ₡920.6 today. The average annual inflation rate has been 8.25%.

## Inflation timeline in Costa Rica (1993-2020)

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 (1993-2020) 820.33%
Total Inflation* 820.6%
Annual inflation avg. (1993-2020) 8.57%
Annual inflation avg.* 8.25%
CPI 1993 11.58
CPI 2020 106.61
CPI today* 106.64
₡1 in 1993 ₡9.2 in 2020

* 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 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, it indicates how much are ₡100 worth today. There are 27 years between 1993 and 2020 and the average inflation rate has been 8.2508%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.08)27 = ₡920.33

#### 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 1993 was 11.58 and the CPI today is 106.64. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
106.61/11.58
= ₡920.33

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1993 ₡9.21 colones today
₡5 colones in 1993 ₡46.03 colones today
₡10 colones in 1993 ₡92.06 colones today
₡50 colones in 1993 ₡460.3 colones today
₡100 colones in 1993 ₡920.6 colones today
₡500 colones in 1993 ₡4,603.01 colones today
₡1,000 colones in 1993 ₡9,206.02 colones today
₡5,000 colones in 1993 ₡46,030.1 colones today
₡10,000 colones in 1993 ₡92,060.19 colones today
₡50,000 colones in 1993 ₡460,300.97 colones today
₡100,000 colones in 1993 ₡920,601.95 colones today
₡500,000 colones in 1993 ₡4,603,009.73 colones today
₡1,000,000 colones in 1993 ₡9,206,019.45 colones today

Period Value
1993 100
1994 109.04
1995 130.69
1996 160.19
1997 182.44
1998 202.87
1999 227.94
2000 250.99
2001 276.71
2002 307.03
2003 336.76
2004 369.98
2005 418.56
2006 477.48
2007 522.52
2008 578.98
2009 659.47
2010 686.16
2011 726.12
2012 760.51
2013 795.12
2014 824.37
2015 866.63
2016 859.64
2017 866.22
2018 888.52
2019 906.53
2020 920.33
Today 920.6