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Value of 1992 Icelandic Kronur today

kr100 in 1992
kr392.11 in 2024

The inflation rate in Iceland between 1992 and today has been 292.11%, which translates into a total increase of kr292.11. This means that 100 kronur in 1992 are equivalent to 392.11 kronur in 2024. In other words, the purchasing power of kr100 in 1992 equals kr392.11 today. The average annual inflation rate between these periods has been 4.36%.

Inflation timeline in Iceland (1992 - 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 1992-2023 267.9%
Cumulative inflation 1992-today 292.11%
Avg. Annual inflation 1992-2023 4.29%
CPI 1992 37.64
CPI 2023 138.48
CPI 2024-06 (latest official data) 147.27
CPI today 147.6

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 1992 and 2023, use the corresponding CPI values:

Value2023
=Value1992 ×
CPI2023/CPI1992
=kr 100 ×
138.48/37.64
kr367.9

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 147.6:

Valuetoday
=Value1992 ×
CPItoday/CPI1992
=kr 100 ×
147.6/37.64
kr392.11

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 31 years between 1992 and 2023 and the average inflation rate was 4.2916%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.042916)31
kr367.9

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1992 kr3.68 kronur in 2023
kr5 kronur in 1992 kr18.4 kronur in 2023
kr10 kronur in 1992 kr36.79 kronur in 2023
kr50 kronur in 1992 kr183.95 kronur in 2023
kr100 kronur in 1992 kr367.9 kronur in 2023
kr500 kronur in 1992 kr1,839.5 kronur in 2023
kr1,000 kronur in 1992 kr3,679 kronur in 2023
kr5,000 kronur in 1992 kr18,395.02 kronur in 2023
kr10,000 kronur in 1992 kr36,790.04 kronur in 2023
kr50,000 kronur in 1992 kr183,950.21 kronur in 2023
kr100,000 kronur in 1992 kr367,900.42 kronur in 2023
kr500,000 kronur in 1992 kr1,839,502.12 kronur in 2023
kr1,000,000 kronur in 1992 kr3,679,004.23 kronur in 2023
Cumulative inflation From 1992 292.11%
Avg. annual inflation From 1992 4.36%
CPI 1992 37.64
CPI today 147.6

Value of Krona over time (by year)

Period Value
1992 100
1993 104.04
1994 105.66
1995 107.4
1996 109.83
1997 111.82
1998 113.68
1999 117.35
2000 123.38
2001 131.28
2002 138.11
2003 140.95
2004 145.4
2005 151.19
2006 161.31
2007 169.45
2008 190.97
2009 213.89
2010 225.43
2011 234.45
2012 246.61
2013 256.16
2014 261.39
2015 265.66
2016 270.17
2017 274.93
2018 282.3
2019 290.81
2020 299.09
2021 312.39
2022 338.34
2023 367.9
2024-06 391.23
Today 392.11

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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