CZK Inflation Calculator - Czech Koruna (1991-2024)

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

Kč100 in 1991

Kč455.53 in 2023

The inflation rate in the Czech Republic between 1991 and 2023 was 355.53%, which translates into a total increase of Kč355.53. This means that 100 korunas in 1991 are equivalent to 455.53 korunas in 2023. In other words, the purchasing power of Kč100 in 1991 equals Kč455.53 in 2023. The average annual inflation rate between these periods was 4.85%.

Inflation timeline in the Czech Republic (1991 - 2023)

The following chart depicts the equivalence of Kč100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (CZK) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation from 1991 to 2023	355.53%
Avg. Annual inflation from 1991 to 2023	4.85%
CPI 1991	32.45
CPI 2023	147.83

How to calculate the time value of money with inflation data?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1991 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₁ ×

CPI₂₀₂₃/CPI₁₉₉₁

=Kč 100 ×

147.83/32.45

≈Kč455.53

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)ⁿ, where:

FV: Future Value
PV: Present Value
i: Interest rate (inflation)
n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are Kč100 worth today. There are 32 years between 1991 and 2023 and the average inflation rate was 4.8524%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=Kč100 × (1 + 0.048524)³²