Value of 1994 Costa Rican Colones today

₡100 in 1994
₡855.64 in 2024

The inflation rate in Costa Rica between 1994 and today has been 755.64%, which translates into a total increase of ₡755.64. This means that 100 colones in 1994 are equivalent to 855.64 colones in 2024. In other words, the purchasing power of ₡100 in 1994 equals ₡855.64 today. The average annual inflation rate between these periods has been 7.42%.

Inflation timeline in Costa Rica (1994 - 2024)

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 1994-2023 759.76%
Cumulative inflation 1994-today 755.64%
Avg. Annual inflation 1994-2023 7.7%
CPI 1994 13.76
CPI 2023 118.26
CPI 2024-04 (latest official data) 117.74
CPI today 117.7

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 1994 and 2023, use the corresponding CPI values:

Value2023
=Value1994 ×
CPI2023/CPI1994
=₡ 100 ×
118.26/13.76
₡859.76

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 117.7:

Valuetoday
=Value1994 ×
CPItoday/CPI1994
=₡ 100 ×
117.7/13.76
₡855.64

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 29 years between 1994 and 2023 and the average inflation rate was 7.701%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₡100 × (1 + 0.07701)29
₡859.76

Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1994 ₡8.6 colones in 2023
₡5 colones in 1994 ₡42.99 colones in 2023
₡10 colones in 1994 ₡85.98 colones in 2023
₡50 colones in 1994 ₡429.88 colones in 2023
₡100 colones in 1994 ₡859.76 colones in 2023
₡500 colones in 1994 ₡4,298.8 colones in 2023
₡1,000 colones in 1994 ₡8,597.6 colones in 2023
₡5,000 colones in 1994 ₡42,988 colones in 2023
₡10,000 colones in 1994 ₡85,975.99 colones in 2023
₡50,000 colones in 1994 ₡429,879.95 colones in 2023
₡100,000 colones in 1994 ₡859,759.91 colones in 2023
₡500,000 colones in 1994 ₡4,298,799.53 colones in 2023
₡1,000,000 colones in 1994 ₡8,597,599.05 colones in 2023
Cumulative inflation From 1994 755.64%
Avg. annual inflation From 1994 7.42%
CPI 1994 13.76
CPI today 117.7

Value of Colon over time (by year)

Period Value
1994 100
1995 123.19
1996 144.76
1997 163.94
1998 183.05
1999 201.44
2000 223.52
2001 248.68
2002 271.47
2003 297.12
2004 333.71
2005 379.76
2006 423.32
2007 462.93
2008 525.08
2009 566.26
2010 598.32
2011 627.51
2012 655.72
2013 690.02
2014 721.2
2015 726.99
2016 726.86
2017 738.68
2018 755.08
2019 770.91
2020 776.5
2021 789.91
2022 855.27
2023 859.76
2024-04 855.92
Today 855.64

All available years

Today's value of costa rican colones by year:

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 | 2022 | 2023 |

Other currencies: