Value of 2008 Costa Rican Colones today

₡100 in 2008
₡156.61 in 2022

The inflation rate in Costa Rica between 2008 and today has been 56.61%, which translates into a total increase of ₡56.61. This means that 100 colones in 2008 are equivalent to 156.61 colones in 2022. In other words, the purchasing power of ₡100 in 2008 equals ₡156.61 today. The average annual inflation rate between these periods has been 3.26%.

Inflation timeline in Costa Rica (2008 - 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 2008-2021 50.44%
Cumulative inflation 2008-today 56.61%
Avg. Annual inflation 2008-2021 3.19%
CPI 2008 72.23
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 2008 and 2021, use the corresponding CPI values:

Value2021
=Value2008 ×
CPI2021/CPI2008
=₡ 100 ×
108.65/72.23
₡150.44

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

Valuetoday
=Value2008 ×
CPItoday/CPI2008
=₡ 100 ×
113.11/72.23
₡156.61

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 13 years between 2008 and 2021 and the average inflation rate was 3.1912%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₡100 × (1 + 0.031912)13
₡150.44

Costa Rica inflation - Conversion table

Initial Value Equivalent value
₡1 colon in 2008 ₡1.5 colones in 2021
₡5 colones in 2008 ₡7.52 colones in 2021
₡10 colones in 2008 ₡15.04 colones in 2021
₡50 colones in 2008 ₡75.22 colones in 2021
₡100 colones in 2008 ₡150.44 colones in 2021
₡500 colones in 2008 ₡752.18 colones in 2021
₡1,000 colones in 2008 ₡1,504.37 colones in 2021
₡5,000 colones in 2008 ₡7,521.83 colones in 2021
₡10,000 colones in 2008 ₡15,043.66 colones in 2021
₡50,000 colones in 2008 ₡75,218.32 colones in 2021
₡100,000 colones in 2008 ₡150,436.63 colones in 2021
₡500,000 colones in 2008 ₡752,183.17 colones in 2021
₡1,000,000 colones in 2008 ₡1,504,366.35 colones in 2021
Cumulative inflation From 2008 56.61%
Avg. annual inflation From 2008 3.26%
CPI 2008 72.23
CPI today 113.11

Value of Colon over time (by year)

Period Value
2008 100
2009 107.84
2010 113.95
2011 119.51
2012 124.88
2013 131.41
2014 137.35
2015 138.45
2016 138.43
2017 140.68
2018 143.8
2019 146.82
2020 147.88
2021 150.44
2022-01 154.4
Today 156.61

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: