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more value NOW vs. 2001?
https://forum.costaricaticas.com/viewtopic.php?f=1&t=21192		 Page 1 of 1
Author:  Straddler [ Sun Jan 13, 2008 11:59 am ]
Post subject:  more value NOW vs. 2001?
I recall the exhange rates of '00 and '01 were around 300-350 CR: 1 US.

Now, it is 500 CR : 1 US. Now, doing the following math, this would mean CR is CHEAPER than it was back then, right?

For example, take a 10,000 colones masaje. Back then, in '01, that converts to about $30 US. But, at a rate of 500, it converts to a cost of about $20.

SO, why is everyone saying it is getting more expensive?


signed,
Not an economist
Author:  Orange [ Sun Jan 13, 2008 12:10 pm ]
Post subject:  Re: more value NOW vs. 2001?
Straddler wrote:
I recall the exhange rates of '00 and '01 were around 300-350 CR: 1 US.

Now, it is 500 CR : 1 US. Now, doing the following math, this would mean CR is CHEAPER than it was back then, right?

For example, take a 10,000 colones masaje. Back then, in '01, that converts to about $30 US. But, at a rate of 500, it converts to a cost of about $20.

SO, why is everyone saying it is getting more expensive?

I assume you haver never taken Economics 101, If you did, you would have learned learn the concept of inflation. Prices are constantly changing, so a 10,000¢ massage today did not cost 10,000 in 2001. Comparing a 10k massage in today's dollars versus 2001 dollars is not correct. In 2001, that massage probably cost 5,000, or less. Do the math again and you'll see what everybody means.
Author:  Straddler [ Sun Jan 13, 2008 12:34 pm ]
Post subject:  same price is being quoted!
no. I'm comparing oranges to oranges.

I mean, we're all talking strictly about exchange rates here. I guess the dollar is weaker compared to other currencies? but, at 500 CR to 1 US, I see that what was once a $30 session, is now only a $20 session.
Author:  Pacifica55 [ Sun Jan 13, 2008 12:35 pm ]
Post subject: 
Straddler there is nothing wrong with your math as long as the price of the service in colones remains constant. If you were getting the same massage in '01 for $10,000 colones as you can get in '08 for $10,000 colones then the price is much cheaper now. It is not as cheap as it was a few months ago.

In the very recent past, we were getting $525 colones to the dollar, then $517 colones, now, less that $500 colones. Think of it this way: at $500 colones to the dollar, a $100 colone coin is a 20 cent piece. At $400 colones to the dollar, the same coin is a quarter.
Author:  Skink [ Sun Jan 13, 2008 12:40 pm ]
Post subject: 
One indicator you could look at is the price of gold. In 2000 and 2001 the price of gold per ounce was under $300 US. Last week an ounce of gold hit $900 US.
Author:  Irish Drifter [ Sun Jan 13, 2008 1:24 pm ]
Post subject: 
It would be correct to say things are cheaper because in 2000 the exchange rate was 300 colones and now it is 500 if prices had remained static.

Unfortunately they have increased at a rate faster than then the colon has devalued. The annual inflation rate in Costa Rica has been between 10 to 15 percent over the past years.

Just take a look at taxi fares and you can see how prices are rising in Costa Rica.
Author:  Zippy [ Sun Jan 13, 2008 1:52 pm ]
Post subject: 
As far as Chica prices go I find them the same & this last trip a little less. There were not that many men around for them which may have helped.

No mater how you cut it down there this is the most economical way I have ever seen to be with so many very attractive clean women & have so few problems :) .
Author:  Hank [ Tue Jan 15, 2008 12:39 am ]
Post subject: 
One thing for sure, Hotel rooms have gone up and are getting more difficult to book. I walked into the Presidente on Labor Day 2001 and checked into a $45 room which is now $62 with CRT discount.
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