# Value of 1996 Costa Rican Colones today

₡100 in 1996

₡574.67 in 2020

The inflation rate in Costa Rica between 1996 and today has been 474.67%, which translates into a total increase of ₡474.67. This means that 100 colones in 1996 are equivalent to 574.67 colones in 2020. In other words, the purchasing power of ₡100 in 1996 equals ₡574.67 today. The average annual inflation rate has been 7.24%.

## Inflation timeline in Costa Rica (1996-2020)

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 (1996-2020) 474.52%
Total Inflation* 474.67%
Annual inflation avg. (1996-2020) 7.56%
Annual inflation avg.* 7.24%
CPI 1996 18.56
CPI 2020 106.61
CPI today* 106.64
₡1 in 1996 ₡5.75 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 24 years between 1996 and 2020 and the average inflation rate has been 7.2449%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.07)24 = ₡574.52

#### 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 1996 was 18.56 and the CPI today is 106.64. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
106.61/18.56
= ₡574.52

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1996 ₡5.75 colones today
₡5 colones in 1996 ₡28.73 colones today
₡10 colones in 1996 ₡57.47 colones today
₡50 colones in 1996 ₡287.33 colones today
₡100 colones in 1996 ₡574.67 colones today
₡500 colones in 1996 ₡2,873.33 colones today
₡1,000 colones in 1996 ₡5,746.67 colones today
₡5,000 colones in 1996 ₡28,733.33 colones today
₡10,000 colones in 1996 ₡57,466.65 colones today
₡50,000 colones in 1996 ₡287,333.27 colones today
₡100,000 colones in 1996 ₡574,666.54 colones today
₡500,000 colones in 1996 ₡2,873,332.72 colones today
₡1,000,000 colones in 1996 ₡5,746,665.44 colones today

Period Value
1996 100
1997 113.89
1998 126.64
1999 142.29
2000 156.68
2001 172.74
2002 191.66
2003 210.22
2004 230.96
2005 261.29
2006 298.07
2007 326.18
2008 361.43
2009 411.68
2010 428.34
2011 453.29
2012 474.75
2013 496.36
2014 514.62
2015 541
2016 536.64
2017 540.74
2018 554.66
2019 565.9
2020 574.52
Today 574.67