Value of 1991 Icelandic Kronur today

kr100 in 1991

kr309.75 in 2018

The inflation rate in Iceland between 1991 and today has been 209.75%, which translates into a total increase of kr209.75. This means that 100 kronur in 1991 are equivalent to 309.75 kronur in 2018. In other words, the purchasing power of kr100 in 1991 equals kr309.75 today. The average annual inflation rate has been 4.12%.

Inflation timeline in Iceland (1991-2018)

The following chart ilustrates the equivalence of kr100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1991-2018) 200.77%
Total Inflation* 209.75%
Annual inflation avg. (1991-2018) 4.16%
Annual inflation avg.* 4.12%
CPI 1991 34.74
CPI 2018 104.48
CPI today* 107.6
kr1 in 1991 kr3.01 in 2018

* Values extrapolated from the last official data to obtain today's values.

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 compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 27 years between 1991 and 2018 and the average inflation rate has been 4.1205%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)27 = kr300.77

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1991 was 34.74 and the CPI today is 107.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
104.48/34.74
= kr300.77

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1991 kr3.1 kronur today
kr5 kronur in 1991 kr15.49 kronur today
kr10 kronur in 1991 kr30.97 kronur today
kr50 kronur in 1991 kr154.87 kronur today
kr100 kronur in 1991 kr309.75 kronur today
kr500 kronur in 1991 kr1,548.74 kronur today
kr1,000 kronur in 1991 kr3,097.48 kronur today
kr5,000 kronur in 1991 kr15,487.42 kronur today
kr10,000 kronur in 1991 kr30,974.84 kronur today
kr50,000 kronur in 1991 kr154,874.22 kronur today
kr100,000 kronur in 1991 kr309,748.45 kronur today
kr500,000 kronur in 1991 kr1,548,742.23 kronur today
kr1,000,000 kronur in 1991 kr3,097,484.47 kronur today

Value of Krona in time (by year)

Period Value
1991 100
1992 107.54
1993 109.11
1994 114.27
1995 114.87
1996 117.15
1997 119.55
1998 122.07
1999 123.51
2000 130.36
2001 135.88
2002 147.61
2003 150.55
2004 154.72
2005 160.72
2006 167.33
2007 179.09
2008 189.53
2009 223.92
2010 240.68
2011 246.66
2012 259.6
2013 270.51
2014 281.71
2015 284.04
2016 289.76
2017 295.25
2018 300.77
Today 309.75