kr

Value of 1982 Icelandic Kronur today

kr100 in 1982
kr2,983.86 in 2022

The inflation rate in Iceland between 1982 and today has been 2,883.86%, which translates into a total increase of kr2,883.86. This means that 100 kronur in 1982 are equivalent to 2,983.86 kronur in 2022. In other words, the purchasing power of kr100 in 1982 equals kr2,983.86 today. The average annual inflation rate between these periods has been 8.86%.

Inflation timeline in Iceland (1982 - 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 1982-2021 2,691.95%
Cumulative inflation 1982-today 2,883.86%
Avg. Annual inflation 1982-2021 8.91%
CPI 1982 4.21
CPI 2021 117.59
CPI 2022-04 (latest official data) 125.08
CPI today 125.67

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 1982 and 2021, use the corresponding CPI values:

Value2021
=Value1982 ×
CPI2021/CPI1982
=kr 100 ×
117.59/4.21
kr2,791.95

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 125.67:

Valuetoday
=Value1982 ×
CPItoday/CPI1982
=kr 100 ×
125.67/4.21
kr2,983.86

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 39 years between 1982 and 2021 and the average inflation rate was 8.9117%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.089117)39
kr2,791.95

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1982 kr27.92 kronur in 2021
kr5 kronur in 1982 kr139.6 kronur in 2021
kr10 kronur in 1982 kr279.19 kronur in 2021
kr50 kronur in 1982 kr1,395.97 kronur in 2021
kr100 kronur in 1982 kr2,791.95 kronur in 2021
kr500 kronur in 1982 kr13,959.74 kronur in 2021
kr1,000 kronur in 1982 kr27,919.49 kronur in 2021
kr5,000 kronur in 1982 kr139,597.44 kronur in 2021
kr10,000 kronur in 1982 kr279,194.87 kronur in 2021
kr50,000 kronur in 1982 kr1,395,974.37 kronur in 2021
kr100,000 kronur in 1982 kr2,791,948.74 kronur in 2021
kr500,000 kronur in 1982 kr13,959,743.7 kronur in 2021
kr1,000,000 kronur in 1982 kr27,919,487.4 kronur in 2021
Cumulative inflation From 1982 2,883.86%
Avg. annual inflation From 1982 8.86%
CPI 1982 4.21
CPI today 125.67

Value of Krona over time (by year)

Period Value
1982 100
1983 183.95
1984 240.7
1985 317.72
1986 388.02
1987 459.02
1988 577.1
1989 696.9
1990 805
1991 859.81
1992 893.75
1993 929.88
1994 944.32
1995 959.91
1996 981.61
1997 999.43
1998 1,016.01
1999 1,048.85
2000 1,102.72
2001 1,173.35
2002 1,234.33
2003 1,259.71
2004 1,299.49
2005 1,351.3
2006 1,441.66
2007 1,514.49
2008 1,706.75
2009 1,911.61
2010 2,014.77
2011 2,095.39
2012 2,204.05
2013 2,289.4
2014 2,336.21
2015 2,374.36
2016 2,414.65
2017 2,457.16
2018 2,523.08
2019 2,599.13
2020 2,673.15
2021 2,791.95
2022-04 2,969.75
Today 2,983.86

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 |

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