# Value of 2003 Costa Rican Colones today

₡100 in 2003

₡269.3 in 2019

The inflation rate in Costa Rica between 2003 and today has been 169.3%, which translates into a total increase of ₡169.3. This means that 100 colones in 2003 are equivalent to 269.3 colones in 2019. In other words, the purchasing power of ₡100 in 2003 equals ₡269.3 today. The average annual inflation rate has been 6%.

## Inflation timeline in Costa Rica (2003-2019)

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 (2003-2019) 169.19%
Total Inflation* 169.3%
Annual inflation avg. (2003-2019) 6.38%
Annual inflation avg.* 6%
CPI 2003 39.01
CPI 2019 105.01
CPI today* 105.05
₡1 in 2003 ₡2.69 in 2019

* 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 in 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 16 years between 2003 and 2019 and the average inflation rate has been 6.0005%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₡100 * (1 + 0.06)16 = ₡269.19

#### 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 2003 was 39.01 and the CPI today is 105.05. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₡100 *
105.01/39.01
= ₡269.19

### Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 2003 ₡2.69 colones today
₡5 colones in 2003 ₡13.47 colones today
₡10 colones in 2003 ₡26.93 colones today
₡50 colones in 2003 ₡134.65 colones today
₡100 colones in 2003 ₡269.3 colones today
₡500 colones in 2003 ₡1,346.5 colones today
₡1,000 colones in 2003 ₡2,693 colones today
₡5,000 colones in 2003 ₡13,465.01 colones today
₡10,000 colones in 2003 ₡26,930.01 colones today
₡50,000 colones in 2003 ₡134,650.06 colones today
₡100,000 colones in 2003 ₡269,300.11 colones today
₡500,000 colones in 2003 ₡1,346,500.57 colones today
₡1,000,000 colones in 2003 ₡2,693,001.13 colones today

Period Value
2003 100
2004 109.87
2005 124.29
2006 141.79
2007 155.16
2008 171.93
2009 195.83
2010 203.76
2011 215.62
2012 225.83
2013 236.11
2014 244.8
2015 257.35
2016 255.27
2017 257.22
2018 263.85
2019 269.19
Today 269.3