The inflation rate in the Czech Republic between 1998 and today has been 119.4%, which translates into a total increase of Kč119.4. This means that 100 korunas in 1998 are equivalent to 219.4 korunas in 2023. In other words, the purchasing power of Kč100 in 1998 equals Kč219.4 today. The average annual inflation rate between these periods has been 3.19%.
The following chart depicts the equivalence of Kč100 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 (CZK) 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:
|Cumulative inflation 1998-2022||95.61%|
|Cumulative inflation 1998-today||119.4%|
|Avg. Annual inflation 1998-2022||2.84%|
|CPI 2023-08 (latest official data)||149.1|
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.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 1998 and 2022, use the corresponding CPI values:
To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 149.83:
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:
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 Kč100 worth today. There are 24 years between 1998 and 2022 and the average inflation rate was 2.835%. Therefore, we can resolve the formula like this:
|Initial Value||Equivalent value|
|Kč1 koruna in 1998||→||Kč1.96 korunas in 2022|
|Kč5 korunas in 1998||→||Kč9.78 korunas in 2022|
|Kč10 korunas in 1998||→||Kč19.56 korunas in 2022|
|Kč50 korunas in 1998||→||Kč97.8 korunas in 2022|
|Kč100 korunas in 1998||→||Kč195.61 korunas in 2022|
|Kč500 korunas in 1998||→||Kč978.04 korunas in 2022|
|Kč1,000 korunas in 1998||→||Kč1,956.07 korunas in 2022|
|Kč5,000 korunas in 1998||→||Kč9,780.35 korunas in 2022|
|Kč10,000 korunas in 1998||→||Kč19,560.7 korunas in 2022|
|Kč50,000 korunas in 1998||→||Kč97,803.52 korunas in 2022|
|Kč100,000 korunas in 1998||→||Kč195,607.05 korunas in 2022|
|Kč500,000 korunas in 1998||→||Kč978,035.24 korunas in 2022|
|Kč1,000,000 korunas in 1998||→||Kč1,956,070.48 korunas in 2022|
|Cumulative inflation From 1998||119.4%|
|Avg. annual inflation From 1998||3.19%|
All available years
Today's value of czech korunas by year:
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 | 2022 |