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Value of 2010 Icelandic Kronur today

kr100 in 2010
kr168.84 in 2024

The inflation rate in Iceland between 2010 and today has been 68.84%, which translates into a total increase of kr68.84. This means that 100 kronur in 2010 are equivalent to 168.84 kronur in 2024. In other words, the purchasing power of kr100 in 2010 equals kr168.84 today. The average annual inflation rate between these periods has been 3.81%.

Inflation timeline in Iceland (2010 - 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 2010-2023 63.2%
Cumulative inflation 2010-today 68.84%
Avg. Annual inflation 2010-2023 3.84%
CPI 2010 84.86
CPI 2023 138.48
CPI 2023-12 (latest official data) 142.13
CPI today 143.27

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 2010 and 2023, use the corresponding CPI values:

Value2023
=Value2010 ×
CPI2023/CPI2010
=kr 100 ×
138.48/84.86
kr163.2

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 143.27:

Valuetoday
=Value2010 ×
CPItoday/CPI2010
=kr 100 ×
143.27/84.86
kr168.84

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 13 years between 2010 and 2023 and the average inflation rate was 3.8396%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.038396)13
kr163.2

Iceland inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 2010 kr1.63 kronur in 2023
kr5 kronur in 2010 kr8.16 kronur in 2023
kr10 kronur in 2010 kr16.32 kronur in 2023
kr50 kronur in 2010 kr81.6 kronur in 2023
kr100 kronur in 2010 kr163.2 kronur in 2023
kr500 kronur in 2010 kr816 kronur in 2023
kr1,000 kronur in 2010 kr1,632 kronur in 2023
kr5,000 kronur in 2010 kr8,159.98 kronur in 2023
kr10,000 kronur in 2010 kr16,319.96 kronur in 2023
kr50,000 kronur in 2010 kr81,599.82 kronur in 2023
kr100,000 kronur in 2010 kr163,199.64 kronur in 2023
kr500,000 kronur in 2010 kr815,998.18 kronur in 2023
kr1,000,000 kronur in 2010 kr1,631,996.36 kronur in 2023
Cumulative inflation From 2010 68.84%
Avg. annual inflation From 2010 3.81%
CPI 2010 84.86
CPI today 143.27

Value of Krona over time (by year)

Period Value
2010 100
2011 104
2012 109.39
2013 113.63
2014 115.95
2015 117.85
2016 119.85
2017 121.96
2018 125.23
2019 129
2020 132.68
2021 138.57
2022 150.09
2023 163.2
2023-12 167.49
Today 168.84

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 | 2023 |

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