Value of 1957 Norwegian Kroner today

kr100 in 1957

kr1,445.3 today

The inflation rate in Norway between 1957 and today has been 1,345.3%, which translates into a total increase of kr1,345.3. This means that 100 kroner in 1957 are equivalent to 1,445.3 kroner in 2018. In other words, the purchasing power of kr100 in 1957 equals kr1,445.3 today. The average annual inflation rate has been 4.4%.

Inflation timeline in Norway (1957-2019)

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 (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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1957-2018) 1,296.57%
Total Inflation* 1,345.3%
Annual inflation avg. (1957-2018) 4.42%
Annual inflation avg.* 4.4%
CPI 1957 7.6
CPI 2018 106.1
CPI today* 109.8
kr1 in 1957 kr13.97 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 61 years between 1957 and 2018 and the average inflation rate has been 4.402%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)61 = kr1,396.57

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 1957 was 7.6 and the CPI today is 109.8. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
106.1/7.6
= kr1,396.57

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1957 kr14.45 kroner today
kr5 kroner in 1957 kr72.26 kroner today
kr10 kroner in 1957 kr144.53 kroner today
kr50 kroner in 1957 kr722.65 kroner today
kr100 kroner in 1957 kr1,445.3 kroner today
kr500 kroner in 1957 kr7,226.49 kroner today
kr1,000 kroner in 1957 kr14,452.97 kroner today
kr5,000 kroner in 1957 kr72,264.86 kroner today
kr10,000 kroner in 1957 kr144,529.73 kroner today
kr50,000 kroner in 1957 kr722,648.63 kroner today
kr100,000 kroner in 1957 kr1,445,297.26 kroner today
kr500,000 kroner in 1957 kr7,226,486.32 kroner today
kr1,000,000 kroner in 1957 kr14,452,972.64 kroner today

Value of Krone in time (by year)

Period Value
1957 100
1958 101.89
1959 108.49
1960 109.43
1961 109.43
1962 114.15
1963 119.81
1964 121.7
1965 130.19
1966 133.96
1967 139.62
1968 146.23
1969 150.94
1970 155.66
1971 175.47
1972 183.96
1973 198.11
1974 214.15
1975 235.85
1976 262.26
1977 283.02
1978 309.43
1979 333.96
1980 348.81
1981 396.2
1982 443.59
1983 496.24
1984 531.78
1985 563.37
1986 594.96
1987 647.61
1988 695
1989 734.48
1990 766.08
1991 798.98
1992 821.36
1993 839.79
1994 855.58
1995 871.38
1996 889.81
1997 905.6
1998 926.66
1999 949.04
2000 975.36
2001 1,004.32
2002 1,025.38
2003 1,053.02
2004 1,059.61
2005 1,071.45
2006 1,091.2
2007 1,114.89
2008 1,146.48
2009 1,171.49
2010 1,195.18
2011 1,228.09
2012 1,229.41
2013 1,246.52
2014 1,271.53
2015 1,297.85
2016 1,328.13
2017 1,374.2
2018 1,396.57
Today 1,445.3