Result: $100 in 1960 → $319,730.58 in 2023
The Colombian Peso has lost 99.969% of its value since 1960
Updated: September 13, 2023$100 in 1960 is equivalent in purchasing power to about $319,730.58 today, an increase of $319,630.58 over 63 years. The peso had an average inflation rate of 13.67% per year between 1960 and today, producing a cumulative price increase of 319,630.58%.
This means that today's prices are 3,197.31 times as high as average prices since 1960, according to the OECD and the World Bank consumer price index for Colombia. A peso today only buys 0.031% of what it could buy back then.
The inflation rate in 1960 was 5.81%. The current inflation rate compared to last year is now 11.78%. If this number holds, $100 today will be equivalent in buying power to $111.78 next year.
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| Cumulative price change | 319,630.58% |
| Average inflation rate | 13.67% |
| Converted amount $100 base | $319,730.58 |
| Price difference $100 base | $319,630.58 |
| CPI in 1960 | 0.049 |
| CPI in 2023 | 155.821 |
| Inflation in 1960 | 5.81% |
| Inflation in 2023 | 11.78% |
| $100 in 1960 | $319,730.58 in 2023 |
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 $319,730.58 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $319,730.58 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 63 years.
According to the OECD and 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 319,630.58% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 peso in 1960 | $3,197.31 pesos today |
| $5 pesos in 1960 | $15,986.53 pesos today |
| $10 pesos in 1960 | $31,973.06 pesos today |
| $50 pesos in 1960 | $159,865.29 pesos today |
| $100 pesos in 1960 | $319,730.58 pesos today |
| $500 pesos in 1960 | $1,598,652.89 pesos today |
| $1,000 pesos in 1960 | $3,197,305.77 pesos today |
| $5,000 pesos in 1960 | $15,986,528.86 pesos today |
| $10,000 pesos in 1960 | $31,973,057.71 pesos today |
| $50,000 pesos in 1960 | $159,865,288.57 pesos today |
| $100,000 pesos in 1960 | $319,730,577.14 pesos today |
| $500,000 pesos in 1960 | $1,598,652,885.71 pesos today |
| $1,000,000 pesos in 1960 | $3,197,305,771.42 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 0.04873496973389529 in the year 1960 and 155.8206 in 2023:
155.82060.04873496973389529
×
$100
=
$319,730.58
$100 in 1960 has the same "purchasing power" or "buying power" as $319,730.58 in 2023.
To get the total inflation rate for the 63 years between 1960 and 2023, we use the following formula:
CPI in 2023 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (63 years)
Plugging in the values to this equation, we get:
155.8206 - 0.048734969733895290.04873496973389529
×
100
=
319,631%
Data source & citation
You may use the following MLA citation for this page: “Colombia Inflation Calculator: World Bank data, 1960-2023 (COP).” Official Inflation Data, Alioth Finance, 14 Sep. 2023, https://www.officialdata.org/colombia/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 319,630.58% |
| Average inflation rate | 13.67% |
| Converted amount $100 base | $319,730.58 |
| Price difference $100 base | $319,630.58 |
| CPI in 1960 | 0.049 |
| CPI in 2023 | 155.821 |
| Inflation in 1960 | 5.81% |
| Inflation in 2023 | 11.78% |
| $100 in 1960 | $319,730.58 in 2023 |