Value of 1993 Costa Rican Colones today

₡100 in 1993
₡946.57 in 2022

The inflation rate in Costa Rica between 1993 and today has been 846.57%, which translates into a total increase of ₡846.57. This means that 100 colones in 1993 are equivalent to 946.57 colones in 2022. In other words, the purchasing power of ₡100 in 1993 equals ₡946.57 today. The average annual inflation rate between these periods has been 8.06%.

Inflation timeline in Costa Rica (1993 - 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 (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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1993-2021 796.82%
Cumulative inflation 1993-today 846.57%
Avg. Annual inflation 1993-2021 8.15%
CPI 1993 12.12
CPI 2021 108.65
CPI 2022-01 (latest official data) 111.52
CPI today 114.68

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 1993 and 2021, use the corresponding CPI values:

Value2021
=Value1993 ×
CPI2021/CPI1993
=₡ 100 ×
108.65/12.12
₡896.82

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 114.68:

Valuetoday
=Value1993 ×
CPItoday/CPI1993
=₡ 100 ×
114.68/12.12
₡946.57

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 28 years between 1993 and 2021 and the average inflation rate was 8.1496%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₡100 × (1 + 0.081496)28
₡896.82

Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1993 ₡8.97 colones in 2021
₡5 colones in 1993 ₡44.84 colones in 2021
₡10 colones in 1993 ₡89.68 colones in 2021
₡50 colones in 1993 ₡448.41 colones in 2021
₡100 colones in 1993 ₡896.82 colones in 2021
₡500 colones in 1993 ₡4,484.08 colones in 2021
₡1,000 colones in 1993 ₡8,968.16 colones in 2021
₡5,000 colones in 1993 ₡44,840.79 colones in 2021
₡10,000 colones in 1993 ₡89,681.58 colones in 2021
₡50,000 colones in 1993 ₡448,407.92 colones in 2021
₡100,000 colones in 1993 ₡896,815.85 colones in 2021
₡500,000 colones in 1993 ₡4,484,079.23 colones in 2021
₡1,000,000 colones in 1993 ₡8,968,158.46 colones in 2021
Cumulative inflation From 1993 846.57%
Avg. annual inflation From 1993 8.06%
CPI 1993 12.12
CPI today 114.68

Value of Colon over time (by year)

Period Value
1993 100
1994 113.53
1995 139.86
1996 164.35
1997 186.12
1998 207.82
1999 228.7
2000 253.77
2001 282.33
2002 308.22
2003 337.34
2004 378.88
2005 431.16
2006 480.61
2007 525.58
2008 596.14
2009 642.9
2010 679.3
2011 712.44
2012 744.46
2013 783.41
2014 818.81
2015 825.38
2016 825.24
2017 838.65
2018 857.28
2019 875.25
2020 881.59
2021 896.82
2022-01 920.47
Today 946.57

All available years

Today's value of costa rican colones by year:

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: