kr

Value of 1975 Icelandic Kronur today

kr100 in 1975
kr44,898.56 in 2024

The inflation rate in Iceland between 1975 and today has been 44,798.56%, which translates into a total increase of kr44,798.56. This means that 100 kronur in 1975 are equivalent to 44,898.56 kronur in 2024. In other words, the purchasing power of kr100 in 1975 equals kr44,898.56 today. The average annual inflation rate between these periods has been 13.27%.

Inflation timeline in Iceland (1975 - 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 1975-2023 42,371.58%
Cumulative inflation 1975-today 44,798.56%
Avg. Annual inflation 1975-2023 13.44%
CPI 1975 0.33
CPI 2023 138.48
CPI 2024-04 (latest official data) 145.72
CPI today 146.4

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 1975 and 2023, use the corresponding CPI values:

Value2023
=Value1975 ×
CPI2023/CPI1975
=kr 100 ×
138.48/0.33
kr42,471.58

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 146.4:

Valuetoday
=Value1975 ×
CPItoday/CPI1975
=kr 100 ×
146.4/0.33
kr44,898.56

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 48 years between 1975 and 2023 and the average inflation rate was 13.4363%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.134363)48
kr42,471.58

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1975 kr424.72 kronur in 2023
kr5 kronur in 1975 kr2,123.58 kronur in 2023
kr10 kronur in 1975 kr4,247.16 kronur in 2023
kr50 kronur in 1975 kr21,235.79 kronur in 2023
kr100 kronur in 1975 kr42,471.58 kronur in 2023
kr500 kronur in 1975 kr212,357.91 kronur in 2023
kr1,000 kronur in 1975 kr424,715.81 kronur in 2023
kr5,000 kronur in 1975 kr2,123,579.07 kronur in 2023
kr10,000 kronur in 1975 kr4,247,158.14 kronur in 2023
kr50,000 kronur in 1975 kr21,235,790.68 kronur in 2023
kr100,000 kronur in 1975 kr42,471,581.37 kronur in 2023
kr500,000 kronur in 1975 kr212,357,906.84 kronur in 2023
kr1,000,000 kronur in 1975 kr424,715,813.69 kronur in 2023
Cumulative inflation From 1975 44,798.56%
Avg. annual inflation From 1975 13.27%
CPI 1975 0.33
CPI today 146.4

Value of Krona over time (by year)

Period Value
1975 100
1976 132.04
1977 172.06
1978 247.34
1979 357.27
1980 566.38
1981 859.72
1982 1,291.67
1983 2,376.03
1984 3,109.1
1985 4,103.84
1986 5,011.96
1987 5,929.04
1988 7,454.31
1989 9,001.69
1990 10,397.91
1991 11,105.89
1992 11,544.31
1993 12,011.03
1994 12,197.52
1995 12,398.93
1996 12,679.2
1997 12,909.38
1998 13,123.58
1999 13,547.71
2000 14,243.59
2001 15,155.9
2002 15,943.56
2003 16,271.3
2004 16,785.18
2005 17,454.41
2006 18,621.6
2007 19,562.29
2008 22,045.6
2009 24,691.76
2010 26,024.31
2011 27,065.55
2012 28,469.14
2013 29,571.55
2014 30,176.17
2015 30,668.97
2016 31,189.39
2017 31,738.46
2018 32,589.98
2019 33,572.24
2020 34,528.35
2021 36,062.87
2022 39,059.23
2023 42,471.58
2024-04 44,692.05
Today 44,898.56

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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