kr

Value of 1972 Icelandic Kronur today

kr100 in 1972
kr99,659.76 in 2022

The inflation rate in Iceland between 1972 and today has been 99,559.76%, which translates into a total increase of kr99,559.76. This means that 100 kronur in 1972 are equivalent to 99,659.76 kronur in 2022. In other words, the purchasing power of kr100 in 1972 equals kr99,659.76 today. The average annual inflation rate between these periods has been 14.81%.

Inflation timeline in Iceland (1972 - 2022)

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 1972-2021 93,058.02%
Cumulative inflation 1972-today 99,559.76%
Avg. Annual inflation 1972-2021 14.97%
CPI 1972 0.13
CPI 2021 117.59
CPI 2022-04 (latest official data) 125.08
CPI today 125.79

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 1972 and 2021, use the corresponding CPI values:

Value2021
=Value1972 ×
CPI2021/CPI1972
=kr 100 ×
117.59/0.13
kr93,158.02

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 125.79:

Valuetoday
=Value1972 ×
CPItoday/CPI1972
=kr 100 ×
125.79/0.13
kr99,659.76

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 49 years between 1972 and 2021 and the average inflation rate was 14.9731%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.149731)49
kr93,158.02

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1972 kr931.58 kronur in 2021
kr5 kronur in 1972 kr4,657.9 kronur in 2021
kr10 kronur in 1972 kr9,315.8 kronur in 2021
kr50 kronur in 1972 kr46,579.01 kronur in 2021
kr100 kronur in 1972 kr93,158.02 kronur in 2021
kr500 kronur in 1972 kr465,790.1 kronur in 2021
kr1,000 kronur in 1972 kr931,580.2 kronur in 2021
kr5,000 kronur in 1972 kr4,657,901.01 kronur in 2021
kr10,000 kronur in 1972 kr9,315,802.02 kronur in 2021
kr50,000 kronur in 1972 kr46,579,010.12 kronur in 2021
kr100,000 kronur in 1972 kr93,158,020.25 kronur in 2021
kr500,000 kronur in 1972 kr465,790,101.23 kronur in 2021
kr1,000,000 kronur in 1972 kr931,580,202.45 kronur in 2021
Cumulative inflation From 1972 99,559.76%
Avg. annual inflation From 1972 14.81%
CPI 1972 0.13
CPI today 125.79

Value of Krona over time (by year)

Period Value
1972 100
1973 121.36
1974 172.95
1975 258.32
1976 341.07
1977 444.48
1978 638.94
1979 922.91
1980 1,463.07
1981 2,220.84
1982 3,336.67
1983 6,137.8
1984 8,031.46
1985 10,601.09
1986 12,946.94
1987 15,315.95
1988 19,256.05
1989 23,253.26
1990 26,860.01
1991 28,688.85
1992 29,821.4
1993 31,027.04
1994 31,508.78
1995 32,029.06
1996 32,753.06
1997 33,347.67
1998 33,900.99
1999 34,996.61
2000 36,794.2
2001 39,150.9
2002 41,185.58
2003 42,032.22
2004 43,359.68
2005 45,088.44
2006 48,103.54
2007 50,533.53
2008 56,948.46
2009 63,784.04
2010 67,226.3
2011 69,916.04
2012 73,541.82
2013 76,389.55
2014 77,951.43
2015 79,224.42
2016 80,568.78
2017 81,987.14
2018 84,186.8
2019 86,724.2
2020 89,194.03
2021 93,158.02
2022-04 99,090.5
Today 99,659.76

All available years

Today's value of icelandic kronur by year:

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 |

Other currencies: