Result: $100 in 1961 → $233,973.64 in 2020
Why a peso today is worth only 0.0% of a peso in 1961
Updated: September 11, 2020According to the World Bank consumer price index for Colombia, today's prices in 2020 are 233,873.64% higher than average prices since 1961. This means that a peso today only buys 0.04% of what it could buy in 1961. The Colombian Peso experienced an average inflation rate of 14.05% per year during this period, causing the real value of a peso to decrease.
In other words, $100 in 1961 is equivalent in purchasing power to about $233,973.64 in 2020, a difference of $233,873.64 over 59 years. This inflation data is collected by the World Bank and is specific to Colombia.
The 1961 inflation rate was 8.28%. The current year-over-year inflation rate (2019 to 2020) 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 | 233,873.64% |
| Average inflation rate | 14.05% |
| Converted amount ($100 base) | $233,973.64 |
| Price difference ($100 base) | $233,873.64 |
| CPI in 1961 | 0.062 |
| CPI in 2020 | 145.920 |
| Inflation in 1961 | 8.28% |
| Inflation in 2020 | 3.53% |
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 $233,973.64 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $233,973.64 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 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:
This conversion table shows various other 1961 amounts in today's pesos, based on the 233,873.64% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 peso in 1961 | $2,339.74 pesos today |
| $5 pesos in 1961 | $11,698.68 pesos today |
| $10 pesos in 1961 | $23,397.36 pesos today |
| $50 pesos in 1961 | $116,986.82 pesos today |
| $100 pesos in 1961 | $233,973.64 pesos today |
| $500 pesos in 1961 | $1,169,868.19 pesos today |
| $1,000 pesos in 1961 | $2,339,736.37 pesos today |
| $5,000 pesos in 1961 | $11,698,681.87 pesos today |
| $10,000 pesos in 1961 | $23,397,363.74 pesos today |
| $50,000 pesos in 1961 | $116,986,818.71 pesos today |
| $100,000 pesos in 1961 | $233,973,637.42 pesos today |
| $500,000 pesos in 1961 | $1,169,868,187.09 pesos today |
| $1,000,000 pesos in 1961 | $2,339,736,374.19 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 145.91956913697496 in 2020:
145.919569136974960.0623658164
×
$100
=
$233,973.64
$100 in 1961 has the same "purchasing power" or "buying power" as $233,973.64 in 2020.
To get the total inflation rate for the 59 years between 1961 and 2020, we use the following formula:
CPI in 2020 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (59 years)
Plugging in the values to this equation, we get:
145.91956913697496 - 0.06236581640.0623658164
×
100
=
233,874%
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, 1961-2020 (COP).” Official Inflation Data, Alioth Finance, 17 Sep. 2020, https://www.officialdata.org/colombia/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 233,873.64% |
| Average inflation rate | 14.05% |
| Converted amount ($100 base) | $233,973.64 |
| Price difference ($100 base) | $233,873.64 |
| CPI in 1961 | 0.062 |
| CPI in 2020 | 145.920 |
| Inflation in 1961 | 8.28% |
| Inflation in 2020 | 3.53% |