Value of 1998 Czech Korunas today

Kč100 in 1998

Kč170.06 in 2020

The inflation rate in Czech Republic between 1998 and today has been 70.06%, which translates into a total increase of Kč70.06. This means that 100 korunas in 1998 are equivalent to 170.06 korunas in 2020. In other words, the purchasing power of Kč100 in 1998 equals Kč170.06 today. The average annual inflation rate has been 2.34%.

Inflation timeline in Czech Republic (1998-2020)

The following chart depicts the equivalence of Kč100 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 (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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1998-2020) 69.88%
Total Inflation* 70.06%
Annual inflation avg. (1998-2020) 2.44%
Annual inflation avg.* 2.34%
CPI 1998 64.4
CPI 2020 109.4
CPI today* 109.52
Kč1 in 1998 Kč1.7 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 Kč100 worth today. There are 22 years between 1998 and 2020 and the average inflation rate has been 2.3354%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = Kč100 * (1 + 0.02)22 = Kč169.88

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 1998 was 64.4 and the CPI today is 109.52. Therefore,

Final value = Initial value *
CPI final/CPI initial
= Kč100 *
= Kč169.88

Czech Republic inflation - Conversion table

Initial Value Equivalent value
Kč1 koruna in 1998 Kč1.7 korunas today
Kč5 korunas in 1998 Kč8.5 korunas today
Kč10 korunas in 1998 Kč17.01 korunas today
Kč50 korunas in 1998 Kč85.03 korunas today
Kč100 korunas in 1998 Kč170.06 korunas today
Kč500 korunas in 1998 Kč850.29 korunas today
Kč1,000 korunas in 1998 Kč1,700.57 korunas today
Kč5,000 korunas in 1998 Kč8,502.87 korunas today
Kč10,000 korunas in 1998 Kč17,005.74 korunas today
Kč50,000 korunas in 1998 Kč85,028.7 korunas today
Kč100,000 korunas in 1998 Kč170,057.4 korunas today
Kč500,000 korunas in 1998 Kč850,287.02 korunas today
Kč1,000,000 korunas in 1998 Kč1,700,574.05 korunas today

Value of Koruna over time (by year)

Period Value
1998 100
1999 106.83
2000 109.32
2001 113.66
2002 118.32
2003 119.1
2004 120.34
2005 123.6
2006 126.4
2007 128.57
2008 135.56
2009 140.53
2010 141.93
2011 145.19
2012 148.6
2013 152.17
2014 154.35
2015 154.5
2016 154.5
2017 157.61
2018 161.34
2019 164.6
2020 169.88
Today 170.06