kr

Value of 1969 Icelandic Kronur today

kr100 in 1969
kr155,573.64 in 2024

The inflation rate in Iceland between 1969 and today has been 155,473.64%, which translates into a total increase of kr155,473.64. This means that 100 kronur in 1969 are equivalent to 155,573.64 kronur in 2024. In other words, the purchasing power of kr100 in 1969 equals kr155,573.64 today. The average annual inflation rate between these periods has been 14.3%.

Inflation timeline in Iceland (1969 - 2024)

The following chart depicts the equivalence of kr100 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 (ISK) 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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1969-2023 145,683.07%
Cumulative inflation 1969-today 155,473.64%
Avg. Annual inflation 1969-2023 14.44%
CPI 1969 0.09
CPI 2023 138.48
CPI 2024-06 (latest official data) 147.27
CPI today 147.78

How to calculate today's value of money after inflation?

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:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1969 and 2023, use the corresponding CPI values:

Value2023
=Value1969 ×
CPI2023/CPI1969
=kr 100 ×
138.48/0.09
kr145,783.07

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 147.78:

Valuetoday
=Value1969 ×
CPItoday/CPI1969
=kr 100 ×
147.78/0.09
kr155,573.64

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 kr100 worth today. There are 54 years between 1969 and 2023 and the average inflation rate was 14.4425%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.144425)54
kr145,783.07

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1969 kr1,457.83 kronur in 2023
kr5 kronur in 1969 kr7,289.15 kronur in 2023
kr10 kronur in 1969 kr14,578.31 kronur in 2023
kr50 kronur in 1969 kr72,891.53 kronur in 2023
kr100 kronur in 1969 kr145,783.07 kronur in 2023
kr500 kronur in 1969 kr728,915.34 kronur in 2023
kr1,000 kronur in 1969 kr1,457,830.69 kronur in 2023
kr5,000 kronur in 1969 kr7,289,153.44 kronur in 2023
kr10,000 kronur in 1969 kr14,578,306.87 kronur in 2023
kr50,000 kronur in 1969 kr72,891,534.37 kronur in 2023
kr100,000 kronur in 1969 kr145,783,068.73 kronur in 2023
kr500,000 kronur in 1969 kr728,915,343.67 kronur in 2023
kr1,000,000 kronur in 1969 kr1,457,830,687.33 kronur in 2023
Cumulative inflation From 1969 155,473.64%
Avg. annual inflation From 1969 14.3%
CPI 1969 0.09
CPI today 147.78

Value of Krona over time (by year)

Period Value
1969 100
1970 113.37
1971 121
1972 132.88
1973 161.25
1974 229.81
1975 343.25
1976 453.21
1977 590.61
1978 849
1979 1,226.33
1980 1,944.08
1981 2,950.98
1982 4,433.65
1983 8,155.7
1984 10,671.93
1985 14,086.38
1986 17,203.47
1987 20,351.32
1988 25,586.8
1989 30,898.16
1990 35,690.69
1991 38,120.79
1992 39,625.69
1993 41,227.7
1994 41,867.82
1995 42,559.15
1996 43,521.17
1997 44,311.27
1998 45,046.5
1999 46,502.32
2000 48,890.9
2001 52,022.4
2002 54,726.02
2003 55,851.01
2004 57,614.89
2005 59,912.02
2006 63,918.38
2007 67,147.27
2008 75,671.21
2009 84,754.11
2010 89,328.06
2011 92,902.1
2012 97,719.91
2013 101,503.89
2014 103,579.26
2015 105,270.77
2016 107,057.11
2017 108,941.77
2018 111,864.62
2019 115,236.23
2020 118,518.04
2021 123,785.27
2022 134,070.22
2023 145,783.07
2024-06 155,028.58
Today 155,573.64

All available years

Today's value of icelandic kronur by year:

1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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