kr

Value of 1995 Icelandic Kronur today

kr100 in 1995
kr329.16 in 2023

The inflation rate in Iceland between 1995 and today has been 229.16%, which translates into a total increase of kr229.16. This means that 100 kronur in 1995 are equivalent to 329.16 kronur in 2023. In other words, the purchasing power of kr100 in 1995 equals kr329.16 today. The average annual inflation rate between these periods has been 4.35%.

Inflation timeline in Iceland (1995 - 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 1995-2022 215.02%
Cumulative inflation 1995-today 229.16%
Avg. Annual inflation 1995-2022 4.34%
CPI 1995 40.43
CPI 2022 127.36
CPI 2022-12 (latest official data) 131.9
CPI today 133.08

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 1995 and 2022, use the corresponding CPI values:

Value2022
=Value1995 ×
CPI2022/CPI1995
=kr 100 ×
127.36/40.43
kr315.02

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 133.08:

Valuetoday
=Value1995 ×
CPItoday/CPI1995
=kr 100 ×
133.08/40.43
kr329.16

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 27 years between 1995 and 2022 and the average inflation rate was 4.3415%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=kr100 × (1 + 0.043415)27
kr315.02

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 1995 kr3.15 kronur in 2022
kr5 kronur in 1995 kr15.75 kronur in 2022
kr10 kronur in 1995 kr31.5 kronur in 2022
kr50 kronur in 1995 kr157.51 kronur in 2022
kr100 kronur in 1995 kr315.02 kronur in 2022
kr500 kronur in 1995 kr1,575.1 kronur in 2022
kr1,000 kronur in 1995 kr3,150.21 kronur in 2022
kr5,000 kronur in 1995 kr15,751.04 kronur in 2022
kr10,000 kronur in 1995 kr31,502.09 kronur in 2022
kr50,000 kronur in 1995 kr157,510.45 kronur in 2022
kr100,000 kronur in 1995 kr315,020.9 kronur in 2022
kr500,000 kronur in 1995 kr1,575,104.5 kronur in 2022
kr1,000,000 kronur in 1995 kr3,150,209 kronur in 2022
Cumulative inflation From 1995 229.16%
Avg. annual inflation From 1995 4.35%
CPI 1995 40.43
CPI today 133.08

Value of Krona over time (by year)

Period Value
1995 100
1996 102.26
1997 104.12
1998 105.84
1999 109.27
2000 114.88
2001 122.24
2002 128.59
2003 131.23
2004 135.38
2005 140.77
2006 150.19
2007 157.77
2008 177.8
2009 199.14
2010 209.89
2011 218.29
2012 229.61
2013 238.5
2014 243.38
2015 247.35
2016 251.55
2017 255.98
2018 262.85
2019 270.77
2020 278.48
2021 290.85
2022 315.02
2022-12 326.26
Today 329.16

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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