kr

Value of 1955 Norwegian Kroner today

kr100 in 1955
kr1,855.74 in 2024

The inflation rate in Norway between 1955 and today has been 1,755.74%, which translates into a total increase of kr1,755.74. This means that 100 kroner in 1955 are equivalent to 1,855.74 kroner in 2024. In other words, the purchasing power of kr100 in 1955 equals kr1,855.74 today. The average annual inflation rate between these periods has been 4.32%.

Inflation timeline in Norway (1955 - 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 (NOK) 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 1955-2023 1,694.21%
Cumulative inflation 1955-today 1,755.74%
Avg. Annual inflation 1955-2023 4.34%
CPI 1955 7.22
CPI 2023 129.56
CPI 2024-06 (latest official data) 133.8
CPI today 134

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 1955 and 2023, use the corresponding CPI values:

Value2023
=Value1955 ×
CPI2023/CPI1955
=kr 100 ×
129.56/7.22
kr1,794.21

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134:

Valuetoday
=Value1955 ×
CPItoday/CPI1955
=kr 100 ×
134/7.22
kr1,855.74

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 68 years between 1955 and 2023 and the average inflation rate was 4.3372%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.043372)68
kr1,794.21

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1955 kr17.94 kroner in 2023
kr5 kroner in 1955 kr89.71 kroner in 2023
kr10 kroner in 1955 kr179.42 kroner in 2023
kr50 kroner in 1955 kr897.11 kroner in 2023
kr100 kroner in 1955 kr1,794.21 kroner in 2023
kr500 kroner in 1955 kr8,971.07 kroner in 2023
kr1,000 kroner in 1955 kr17,942.15 kroner in 2023
kr5,000 kroner in 1955 kr89,710.73 kroner in 2023
kr10,000 kroner in 1955 kr179,421.46 kroner in 2023
kr50,000 kroner in 1955 kr897,107.31 kroner in 2023
kr100,000 kroner in 1955 kr1,794,214.62 kroner in 2023
kr500,000 kroner in 1955 kr8,971,073.1 kroner in 2023
kr1,000,000 kroner in 1955 kr17,942,146.21 kroner in 2023
Cumulative inflation From 1955 1,755.74%
Avg. annual inflation From 1955 4.32%
CPI 1955 7.22
CPI today 134

Value of Krone over time (by year)

Period Value
1955 100
1956 103.8
1957 106.78
1958 112.16
1959 114.72
1960 115.14
1961 117.62
1962 123.82
1963 126.88
1964 134.33
1965 139.95
1966 144.5
1967 151.12
1968 156.33
1969 160.96
1970 178.08
1971 189.16
1972 202.9
1973 217.95
1974 238.46
1975 266.34
1976 290.74
1977 317.2
1978 343.09
1979 358.57
1980 397.57
1981 451.81
1982 503.05
1983 545.64
1984 579.57
1985 612.69
1986 656.66
1987 713.9
1988 761.56
1989 796.19
1990 829.08
1991 857.58
1992 877.55
1993 897.63
1994 909.98
1995 932.36
1996 944.14
1997 968.37
1998 990.18
1999 1,013.61
2000 1,044.88
2001 1,076.28
2002 1,090.12
2003 1,117.24
2004 1,122.32
2005 1,139.52
2006 1,166.06
2007 1,174.37
2008 1,218.46
2009 1,245.23
2010 1,275.35
2011 1,291.74
2012 1,300.74
2013 1,328.32
2014 1,355.44
2015 1,384.87
2016 1,434.03
2017 1,460.92
2018 1,501.31
2019 1,533.86
2020 1,553.59
2021 1,607.72
2022 1,700.39
2023 1,794.21
2024-06 1,852.96
Today 1,855.74

All available years

Today's value of norwegian kroner 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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