Kč100 in 2003
The inflation rate in Czech Republic between 2003 and today has been 38.2%, which translates into a total increase of Kč38.2. This means that 100 korunas in 2003 are equivalent to 138.2 korunas in 2018. In other words, the purchasing power of Kč100 in 2003 equals Kč138.2 today. The average annual inflation rate has been 2.04%.
The following chart ilustrates the equivalence of Kč100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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:
|Total Inflation (2003-2018)||35.46%|
|Annual inflation avg. (2003-2018)||2.04%|
|Annual inflation avg.*||2.04%|
|Kč1 in 2003||Kč1.35 in 2018|
* Values extrapolated from the last official data to obtain today's values.
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.
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:
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 15 years between 2003 and 2018 and the average inflation rate has been 2.0428%. Therefore, we can resolve the formula like this:
FV = PV (1 + i)n = Kč100 * (1 + 0.02)15 = Kč135.46
When the CPI for both start and end years is known, the following formula can be used:
In this case, the CPI in 2003 was 76.7 and the CPI today is 106. Therefore,
|Initial Value||Equivalent value|
|Kč1 koruna in 2003||Kč1.38 korunas today|
|Kč5 korunas in 2003||Kč6.91 korunas today|
|Kč10 korunas in 2003||Kč13.82 korunas today|
|Kč50 korunas in 2003||Kč69.1 korunas today|
|Kč100 korunas in 2003||Kč138.2 korunas today|
|Kč500 korunas in 2003||Kč691.01 korunas today|
|Kč1,000 korunas in 2003||Kč1,382.02 korunas today|
|Kč5,000 korunas in 2003||Kč6,910.1 korunas today|
|Kč10,000 korunas in 2003||Kč13,820.21 korunas today|
|Kč50,000 korunas in 2003||Kč69,101.05 korunas today|
|Kč100,000 korunas in 2003||Kč138,202.1 korunas today|
|Kč500,000 korunas in 2003||Kč691,010.5 korunas today|
|Kč1,000,000 korunas in 2003||Kč1,382,021 korunas today|