kr

Value of 1986 Icelandic Kronur today

kr100 in 1986
kr814.52 in 2023

The inflation rate in Iceland between 1986 and today has been 714.52%, which translates into a total increase of kr714.52. This means that 100 kronur in 1986 are equivalent to 814.52 kronur in 2023. In other words, the purchasing power of kr100 in 1986 equals kr814.52 today. The average annual inflation rate between these periods has been 5.83%.

Inflation timeline in Iceland (1986 - 2023)

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 1986-2022 679.32%
Cumulative inflation 1986-today 714.52%
Avg. Annual inflation 1986-2022 5.87%
CPI 1986 16.34
CPI 2022 127.36
CPI 2022-12 (latest official data) 131.9
CPI today 133.11

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 1986 and 2022, use the corresponding CPI values:

Value2022
=Value1986 ×
CPI2022/CPI1986
=kr 100 ×
127.36/16.34
kr779.32

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 133.11:

Valuetoday
=Value1986 ×
CPItoday/CPI1986
=kr 100 ×
133.11/16.34
kr814.52

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 36 years between 1986 and 2022 and the average inflation rate was 5.8693%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=kr100 × (1 + 0.058693)36
kr779.32

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1986 kr7.79 kronur in 2022
kr5 kronur in 1986 kr38.97 kronur in 2022
kr10 kronur in 1986 kr77.93 kronur in 2022
kr50 kronur in 1986 kr389.66 kronur in 2022
kr100 kronur in 1986 kr779.32 kronur in 2022
kr500 kronur in 1986 kr3,896.61 kronur in 2022
kr1,000 kronur in 1986 kr7,793.21 kronur in 2022
kr5,000 kronur in 1986 kr38,966.05 kronur in 2022
kr10,000 kronur in 1986 kr77,932.1 kronur in 2022
kr50,000 kronur in 1986 kr389,660.52 kronur in 2022
kr100,000 kronur in 1986 kr779,321.03 kronur in 2022
kr500,000 kronur in 1986 kr3,896,605.15 kronur in 2022
kr1,000,000 kronur in 1986 kr7,793,210.3 kronur in 2022
Cumulative inflation From 1986 714.52%
Avg. annual inflation From 1986 5.83%
CPI 1986 16.34
CPI today 133.11

Value of Krona over time (by year)

Period Value
1986 100
1987 118.3
1988 148.73
1989 179.6
1990 207.46
1991 221.59
1992 230.34
1993 239.65
1994 243.37
1995 247.39
1996 252.98
1997 257.57
1998 261.85
1999 270.31
2000 284.19
2001 302.39
2002 318.11
2003 324.65
2004 334.9
2005 348.26
2006 371.54
2007 390.31
2008 439.86
2009 492.66
2010 519.24
2011 540.02
2012 568.02
2013 590.02
2014 602.08
2015 611.92
2016 622.3
2017 633.25
2018 650.24
2019 669.84
2020 688.92
2021 719.54
2022 779.32
2022-12 807.12
Today 814.52

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 | 2022 |

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