Result: $100 in 1961 → $242,222.36 in 2021
Why a peso today is worth only 0.0% of a peso in 1961
Updated: February 10, 2021$100 in 1961 is equivalent in purchasing power to about $242,222.36 today, an increase of $242,122.36 over 60 years. The peso had an average inflation rate of 13.87% per year between 1961 and today, producing a cumulative price increase of 242,122.36%.
This means that today's prices are 2,422.22 times higher than average prices since 1961, 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 1961 inflation rate was 8.28%. The current year-over-year inflation rate (2020 to 2021) is now 3.53%1. If this number holds, $100 today will be equivalent in buying power to $103.53 next year.
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| Cumulative price change | 242,122.36% |
| Average inflation rate | 13.87% |
| Converted amount ($100 base) | $242,222.36 |
| Price difference ($100 base) | $242,122.36 |
| CPI in 1961 | 0.062 |
| CPI in 2021 | 151.064 |
| Inflation in 1961 | 8.28% |
| Inflation in 2021 | 3.53% |
| $100 in 1961 | $242,222.36 in 2021 |
Buying power of $100 in 1961
This chart shows a calculation of buying power equivalence for $100 in 1961 (price index tracking began in 1960).
For example, if you started with $100, you would need to end with $242,222.36 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $242,222.36 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 1961 dollars, the chart below shows how $100 is worth less over 60 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 1961 amounts in today's pesos, based on the 242,122.36% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 peso in 1961 | $2,422.22 pesos today |
| $5 pesos in 1961 | $12,111.12 pesos today |
| $10 pesos in 1961 | $24,222.24 pesos today |
| $50 pesos in 1961 | $121,111.18 pesos today |
| $100 pesos in 1961 | $242,222.36 pesos today |
| $500 pesos in 1961 | $1,211,111.81 pesos today |
| $1,000 pesos in 1961 | $2,422,223.61 pesos today |
| $5,000 pesos in 1961 | $12,111,118.05 pesos today |
| $10,000 pesos in 1961 | $24,222,236.10 pesos today |
| $50,000 pesos in 1961 | $121,111,180.51 pesos today |
| $100,000 pesos in 1961 | $242,222,361.01 pesos today |
| $500,000 pesos in 1961 | $1,211,111,805.05 pesos today |
| $1,000,000 pesos in 1961 | $2,422,223,610.11 pesos today |
How to Calculate Inflation Rate for $100 since 1961
Our calculations use the following inflation rate formula to calculate the change in value between 1961 and today:
CPI today
CPI in 1961
×
1961 COP value
=
Today's value
Then plug in historical CPI values. The Colombian CPI was 0.0623658164 in the year 1961 and 151.06395294759645 in 2021:
151.063952947596450.0623658164
×
$100
=
$242,222.36
$100 in 1961 has the same "purchasing power" or "buying power" as $242,222.36 in 2021.
To get the total inflation rate for the 60 years between 1961 and 2021, we use the following formula:
CPI in 2021 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (60 years)
Plugging in the values to this equation, we get:
151.06395294759645 - 0.06236581640.0623658164
×
100
=
242,122%
News headlines from 1961
Politics and news often influence economic performance. Here's what was happening at the time:
- A dog named Chernushka, frogs, and a guinea pig orbit the Earth in the Soviet flight Sputnik 9.
- Nelson Mandela is acquitted of treason after a four-and-a-half year trial.
Data Source & Citation
You may use the following MLA citation for this page: “Colombia Inflation Calculator: World Bank data, 1961-2021 (COP).” Official Inflation Data, Alioth Finance, 27 Feb. 2021, https://www.officialdata.org/colombia/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 242,122.36% |
| Average inflation rate | 13.87% |
| Converted amount ($100 base) | $242,222.36 |
| Price difference ($100 base) | $242,122.36 |
| CPI in 1961 | 0.062 |
| CPI in 2021 | 151.064 |
| Inflation in 1961 | 8.28% |
| Inflation in 2021 | 3.53% |
| $100 in 1961 | $242,222.36 in 2021 |