# Value of 1999 Costa Rican Colones today

₡100 in 1999

₡404.16 in 2020

The inflation rate in Costa Rica between 1999 and today has been 304.16%, which translates into a total increase of ₡304.16. This means that 100 colones in 1999 are equivalent to 404.16 colones in 2020. In other words, the purchasing power of ₡100 in 1999 equals ₡404.16 today. The average annual inflation rate has been 6.55%.

## Inflation timeline in Costa Rica (1999-2020)

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 (1999-2020) 303.77%
Total Inflation* 304.16%
Annual inflation avg. (1999-2020) 6.87%
Annual inflation avg.* 6.55%
CPI 1999 26.4
CPI 2020 106.61
CPI today* 106.71
₡1 in 1999 ₡4.04 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 21 years between 1999 and 2020 and the average inflation rate has been 6.5542%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.07)21 = ₡403.77

#### 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 1999 was 26.4 and the CPI today is 106.71. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
106.61/26.4
= ₡403.77

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 1999 ₡4.04 colones today
₡5 colones in 1999 ₡20.21 colones today
₡10 colones in 1999 ₡40.42 colones today
₡50 colones in 1999 ₡202.08 colones today
₡100 colones in 1999 ₡404.16 colones today
₡500 colones in 1999 ₡2,020.8 colones today
₡1,000 colones in 1999 ₡4,041.6 colones today
₡5,000 colones in 1999 ₡20,207.99 colones today
₡10,000 colones in 1999 ₡40,415.98 colones today
₡50,000 colones in 1999 ₡202,079.88 colones today
₡100,000 colones in 1999 ₡404,159.75 colones today
₡500,000 colones in 1999 ₡2,020,798.76 colones today
₡1,000,000 colones in 1999 ₡4,041,597.53 colones today

Period Value
1999 100
2000 110.11
2001 121.4
2002 134.7
2003 147.74
2004 162.32
2005 183.63
2006 209.48
2007 229.24
2008 254.01
2009 289.32
2010 301.03
2011 318.56
2012 333.65
2013 348.83
2014 361.67
2015 380.21
2016 377.14
2017 380.03
2018 389.81
2019 397.71
2020 403.77
Today 404.16