Value of 1998 Costa Rican Colones today

₡100 in 1998
₡449.23 in 2022

The inflation rate in Costa Rica between 1998 and today has been 349.23%, which translates into a total increase of ₡349.23. This means that 100 colones in 1998 are equivalent to 449.23 colones in 2022. In other words, the purchasing power of ₡100 in 1998 equals ₡449.23 today. The average annual inflation rate between these periods has been 6.46%.

Inflation timeline in Costa Rica (1998 - 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 1998-2021 331.53%
Cumulative inflation 1998-today 349.23%
Avg. Annual inflation 1998-2021 6.56%
CPI 1998 25.18
CPI 2021 108.65
CPI 2022-01 (latest official data) 111.52
CPI today 113.11

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=₡ 100 ×
108.65/25.18
₡431.53

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 113.11:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=₡ 100 ×
113.11/25.18
₡449.23

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 23 years between 1998 and 2021 and the average inflation rate was 6.5636%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₡100 × (1 + 0.065636)23
₡431.53

Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1998 ₡4.32 colones in 2021
₡5 colones in 1998 ₡21.58 colones in 2021
₡10 colones in 1998 ₡43.15 colones in 2021
₡50 colones in 1998 ₡215.76 colones in 2021
₡100 colones in 1998 ₡431.53 colones in 2021
₡500 colones in 1998 ₡2,157.63 colones in 2021
₡1,000 colones in 1998 ₡4,315.26 colones in 2021
₡5,000 colones in 1998 ₡21,576.28 colones in 2021
₡10,000 colones in 1998 ₡43,152.55 colones in 2021
₡50,000 colones in 1998 ₡215,762.75 colones in 2021
₡100,000 colones in 1998 ₡431,525.51 colones in 2021
₡500,000 colones in 1998 ₡2,157,627.54 colones in 2021
₡1,000,000 colones in 1998 ₡4,315,255.07 colones in 2021
Cumulative inflation From 1998 349.23%
Avg. annual inflation From 1998 6.46%
CPI 1998 25.18
CPI today 113.11

Value of Colon over time (by year)

Period Value
1998 100
1999 110.05
2000 122.11
2001 135.85
2002 148.31
2003 162.32
2004 182.31
2005 207.46
2006 231.26
2007 252.9
2008 286.85
2009 309.35
2010 326.86
2011 342.81
2012 358.22
2013 376.96
2014 393.99
2015 397.15
2016 397.08
2017 403.54
2018 412.5
2019 421.15
2020 424.2
2021 431.53
2022-01 442.91
Today 449.23

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: