Result: $100 in 1960 → $263,733.43 in 2022
Why a peso today is worth only 0.038% of a peso in 1960
Updated: January 12, 2022$100 in 1960 is equivalent in purchasing power to about $263,733.43 today, an increase of $263,633.43 over 62 years. The peso had an average inflation rate of 13.55% per year between 1960 and today, producing a cumulative price increase of 263,633.43%.
This means that today's prices are 2,637.33 times higher than average prices since 1960, according to the World Bank consumer price index for Colombia. A peso today only buys 0.04% of what it could buy back then.
The inflation rate in 1960 was 5.81%. The current year-over-year inflation rate (2021 to 2022) is now 2.52%. If this number holds, $100 today will be equivalent in buying power to $102.52 next year.
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| Cumulative price change | 263,633.43% |
| Average inflation rate | 13.55% |
| Converted amount ($100 base) | $263,733.43 |
| Price difference ($100 base) | $263,633.43 |
| CPI in 1960 | 1.058 |
| CPI in 2022 | 2,790.671 |
| Inflation in 1960 | 5.81% |
| Inflation in 2022 | 2.52% |
| $100 in 1960 | $263,733.43 in 2022 |
Buying power of $100 in 1960
This chart shows a calculation of buying power equivalence for $100 in 1960 (price index tracking began in 1959).
For example, if you started with $100, you would need to end with $263,733.43 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $263,733.43 over time, that means that the "real value" of a single Colombian peso decreases over time. In other words, a peso will pay for fewer items at the store.
This effect explains how inflation erodes the value of a peso over time. By calculating the value in 1960 dollars, the chart below shows how $100 is worth less over 62 years.
According to the World Bank, each of these COP amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1960 amounts in today's pesos, based on the 263,633.43% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 peso in 1960 | $2,637.33 pesos today |
| $5 pesos in 1960 | $13,186.67 pesos today |
| $10 pesos in 1960 | $26,373.34 pesos today |
| $50 pesos in 1960 | $131,866.71 pesos today |
| $100 pesos in 1960 | $263,733.43 pesos today |
| $500 pesos in 1960 | $1,318,667.13 pesos today |
| $1,000 pesos in 1960 | $2,637,334.25 pesos today |
| $5,000 pesos in 1960 | $13,186,671.26 pesos today |
| $10,000 pesos in 1960 | $26,373,342.53 pesos today |
| $50,000 pesos in 1960 | $131,866,712.64 pesos today |
| $100,000 pesos in 1960 | $263,733,425.27 pesos today |
| $500,000 pesos in 1960 | $1,318,667,126.36 pesos today |
| $1,000,000 pesos in 1960 | $2,637,334,252.72 pesos today |
How to Calculate Inflation Rate for $100 since 1960
Our calculations use the following inflation rate formula to calculate the change in value between 1960 and today:
CPI today
CPI in 1960
×
1960 COP value
=
Today's value
Then plug in historical CPI values. The Colombian CPI was 1.05814076282 in the year 1960 and 2790.6708779867 in 2022:
2790.67087798671.05814076282
×
$100
=
$263,733.43
$100 in 1960 has the same "purchasing power" or "buying power" as $263,733.43 in 2022.
To get the total inflation rate for the 62 years between 1960 and 2022, we use the following formula:
CPI in 2022 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (62 years)
Plugging in the values to this equation, we get:
2790.6708779867 - 1.058140762821.05814076282
×
100
=
263,633%
News headlines from 1960
Politics and news often influence economic performance. Here's what was happening at the time:
- Johnny Cash plays his first concert in a prison.
- The Bank of France issues new franc currency, worth 100 times the value of old francs.
- France grants independence to Cameroon (previously French Cameroon) after years of fighting.
- Guided missiles are launched for the first time from a nuclear powered submarine
Data Source & Citation
You may use the following MLA citation for this page: “Colombia Inflation Calculator: World Bank data, 1960-2022 (COP).” Official Inflation Data, Alioth Finance, 16 Jan. 2022, https://www.officialdata.org/colombia/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 263,633.43% |
| Average inflation rate | 13.55% |
| Converted amount ($100 base) | $263,733.43 |
| Price difference ($100 base) | $263,633.43 |
| CPI in 1960 | 1.058 |
| CPI in 2022 | 2,790.671 |
| Inflation in 1960 | 5.81% |
| Inflation in 2022 | 2.52% |
| $100 in 1960 | $263,733.43 in 2022 |