# Value of 2002 Costa Rican Colones today

₡100 in 2002

₡302.63 in 2021

The inflation rate in Costa Rica between 2002 and today has been 202.63%, which translates into a total increase of ₡202.63. This means that 100 colones in 2002 are equivalent to 302.63 colones in 2021. In other words, the purchasing power of ₡100 in 2002 equals ₡302.63 today. The average annual inflation rate has been 5.69%.

## Inflation timeline in Costa Rica (2002-2021)

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 (2002-2021) 202.43%
Total Inflation* 202.63%
Annual inflation avg. (2002-2021) 6%
Annual inflation avg.* 5.69%
CPI 2002 35.57
CPI 2021 107.56
CPI today* 107.63
₡1 in 2002 ₡3.02 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 19 years between 2002 and 2021 and the average inflation rate has been 5.6928%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.06)19 = ₡302.43

#### 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 2002 was 35.57 and the CPI today is 107.63. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
107.56/35.57
= ₡302.43

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 2002 ₡3.03 colones today
₡5 colones in 2002 ₡15.13 colones today
₡10 colones in 2002 ₡30.26 colones today
₡50 colones in 2002 ₡151.31 colones today
₡100 colones in 2002 ₡302.63 colones today
₡500 colones in 2002 ₡1,513.14 colones today
₡1,000 colones in 2002 ₡3,026.27 colones today
₡5,000 colones in 2002 ₡15,131.35 colones today
₡10,000 colones in 2002 ₡30,262.7 colones today
₡50,000 colones in 2002 ₡151,313.51 colones today
₡100,000 colones in 2002 ₡302,627.01 colones today
₡500,000 colones in 2002 ₡1,513,135.07 colones today
₡1,000,000 colones in 2002 ₡3,026,270.15 colones today

Period Value
2002 100
2003 109.68
2004 120.51
2005 136.33
2006 155.52
2007 170.19
2008 188.58
2009 214.79
2010 223.49
2011 236.5
2012 247.7
2013 258.97
2014 268.5
2015 282.27
2016 279.99
2017 282.13
2018 289.4
2019 295.26
2020 299.76
2021 302.43
Today 302.63