# Value of 1998 Costa Rican Colones today

₡100 in 1998

₡457.89 in 2021

The inflation rate in Costa Rica between 1998 and today has been 357.89%, which translates into a total increase of ₡357.89. This means that 100 colones in 1998 are equivalent to 457.89 colones in 2021. In other words, the purchasing power of ₡100 in 1998 equals ₡457.89 today. The average annual inflation rate has been 6.54%.

## Inflation timeline in Costa Rica (1998-2021)

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 (1998-2021) 357.7%
Total Inflation* 357.89%
Annual inflation avg. (1998-2021) 6.84%
Annual inflation avg.* 6.54%
CPI 1998 23.5
CPI 2021 107.56
CPI today* 107.61
₡1 in 1998 ₡4.58 in 2021

* 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 23 years between 1998 and 2021 and the average inflation rate has been 6.5447%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.07)23 = ₡457.7

#### 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 1998 was 23.5 and the CPI today is 107.61. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
107.56/23.5
= ₡457.7

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1998 ₡4.58 colones today
₡5 colones in 1998 ₡22.89 colones today
₡10 colones in 1998 ₡45.79 colones today
₡50 colones in 1998 ₡228.95 colones today
₡100 colones in 1998 ₡457.89 colones today
₡500 colones in 1998 ₡2,289.47 colones today
₡1,000 colones in 1998 ₡4,578.94 colones today
₡5,000 colones in 1998 ₡22,894.72 colones today
₡10,000 colones in 1998 ₡45,789.44 colones today
₡50,000 colones in 1998 ₡228,947.18 colones today
₡100,000 colones in 1998 ₡457,894.37 colones today
₡500,000 colones in 1998 ₡2,289,471.83 colones today
₡1,000,000 colones in 1998 ₡4,578,943.66 colones today

Period Value
1998 100
1999 112.36
2000 123.72
2001 136.4
2002 151.34
2003 166
2004 182.37
2005 206.32
2006 235.36
2007 257.56
2008 285.39
2009 325.07
2010 338.22
2011 357.92
2012 374.87
2013 391.93
2014 406.35
2015 427.19
2016 423.74
2017 426.98
2018 437.97
2019 446.85
2020 453.65
2021 457.7
Today 457.89