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 $232,686.01 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $232,686.01 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 buys less over the past 59 years.

According to the World Bank, each of these COP amounts below is equal in terms of what it could buy at the time:

How to Calculate Inflation Rate for $100 since 1961

This inflation calculator uses the following inflation rate formula:

Then plug in historical CPI values. The Colombian CPI was 0.0623658164 in the year 1961 and 145.11653090320453 in 2020:

$100 in 1961 has the same "purchasing power" or "buying power" as $232,686.01 in 2020.

To get the total inflation rate for the 59 years between 1961 and 2020, we use the following formula:

Plugging in the values to this equation, we get:

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

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