Value of 1997 Costa Rican Colones today

₡100 in 1997
₡521.96 in 2024

The inflation rate in Costa Rica between 1997 and today has been 421.96%, which translates into a total increase of ₡421.96. This means that 100 colones in 1997 are equivalent to 521.96 colones in 2024. In other words, the purchasing power of ₡100 in 1997 equals ₡521.96 today. The average annual inflation rate between these periods has been 6.31%.

Inflation timeline in Costa Rica (1997 - 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 1997-2023 424.45%
Cumulative inflation 1997-today 421.96%
Avg. Annual inflation 1997-2023 6.58%
CPI 1997 22.55
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 1997 and 2023, use the corresponding CPI values:

Value2023
=Value1997 ×
CPI2023/CPI1997
=₡ 100 ×
118.26/22.55
₡524.45

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

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=₡ 100 ×
117.7/22.55
₡521.96

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 26 years between 1997 and 2023 and the average inflation rate was 6.5813%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₡100 × (1 + 0.065813)26
₡524.45

Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1997 ₡5.24 colones in 2023
₡5 colones in 1997 ₡26.22 colones in 2023
₡10 colones in 1997 ₡52.44 colones in 2023
₡50 colones in 1997 ₡262.22 colones in 2023
₡100 colones in 1997 ₡524.45 colones in 2023
₡500 colones in 1997 ₡2,622.24 colones in 2023
₡1,000 colones in 1997 ₡5,244.49 colones in 2023
₡5,000 colones in 1997 ₡26,222.45 colones in 2023
₡10,000 colones in 1997 ₡52,444.89 colones in 2023
₡50,000 colones in 1997 ₡262,224.47 colones in 2023
₡100,000 colones in 1997 ₡524,448.95 colones in 2023
₡500,000 colones in 1997 ₡2,622,244.74 colones in 2023
₡1,000,000 colones in 1997 ₡5,244,489.48 colones in 2023
Cumulative inflation From 1997 421.96%
Avg. annual inflation From 1997 6.31%
CPI 1997 22.55
CPI today 117.7

Value of Colon over time (by year)

Period Value
1997 100
1998 111.66
1999 122.88
2000 136.34
2001 151.69
2002 165.6
2003 181.24
2004 203.56
2005 231.65
2006 258.22
2007 282.38
2008 320.29
2009 345.41
2010 364.97
2011 382.78
2012 399.98
2013 420.91
2014 439.93
2015 443.46
2016 443.38
2017 450.59
2018 460.6
2019 470.25
2020 473.66
2021 481.84
2022 521.71
2023 524.45
2024-04 522.11
Today 521.96

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: