kr

Value of 1958 Norwegian Kroner today

kr100 in 1958
kr1,562.49 in 2022

The inflation rate in Norway between 1958 and today has been 1,462.49%, which translates into a total increase of kr1,462.49. This means that 100 kroner in 1958 are equivalent to 1,562.49 kroner in 2022. In other words, the purchasing power of kr100 in 1958 equals kr1,562.49 today. The average annual inflation rate between these periods has been 4.39%.

Inflation timeline in Norway (1958 - 2022)

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 1958-2021 1,333.43%
Cumulative inflation 1958-today 1,462.49%
Avg. Annual inflation 1958-2021 4.32%
CPI 1958 8.1
CPI 2021 116.09
CPI 2022-10 (latest official data) 126
CPI today 126.54

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 1958 and 2021, use the corresponding CPI values:

Value2021
=Value1958 ×
CPI2021/CPI1958
=kr 100 ×
116.09/8.1
kr1,433.43

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.54:

Valuetoday
=Value1958 ×
CPItoday/CPI1958
=kr 100 ×
126.54/8.1
kr1,562.49

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 63 years between 1958 and 2021 and the average inflation rate was 4.317%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.04317)63
kr1,433.43

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1958 kr14.33 kroner in 2021
kr5 kroner in 1958 kr71.67 kroner in 2021
kr10 kroner in 1958 kr143.34 kroner in 2021
kr50 kroner in 1958 kr716.72 kroner in 2021
kr100 kroner in 1958 kr1,433.43 kroner in 2021
kr500 kroner in 1958 kr7,167.16 kroner in 2021
kr1,000 kroner in 1958 kr14,334.32 kroner in 2021
kr5,000 kroner in 1958 kr71,671.58 kroner in 2021
kr10,000 kroner in 1958 kr143,343.15 kroner in 2021
kr50,000 kroner in 1958 kr716,715.77 kroner in 2021
kr100,000 kroner in 1958 kr1,433,431.54 kroner in 2021
kr500,000 kroner in 1958 kr7,167,157.72 kroner in 2021
kr1,000,000 kroner in 1958 kr14,334,315.45 kroner in 2021
Cumulative inflation From 1958 1,462.49%
Avg. annual inflation From 1958 4.39%
CPI 1958 8.1
CPI today 126.54

Value of Krone over time (by year)

Period Value
1958 100
1959 102.29
1960 102.65
1961 104.87
1962 110.4
1963 113.13
1964 119.76
1965 124.78
1966 128.83
1967 134.73
1968 139.38
1969 143.51
1970 158.78
1971 168.66
1972 180.9
1973 194.32
1974 212.61
1975 237.46
1976 259.22
1977 282.82
1978 305.9
1979 319.7
1980 354.47
1981 402.83
1982 448.52
1983 486.49
1984 516.74
1985 546.27
1986 585.47
1987 636.51
1988 679
1989 709.87
1990 739.2
1991 764.61
1992 782.41
1993 800.32
1994 811.33
1995 831.29
1996 841.78
1997 863.39
1998 882.84
1999 903.73
2000 931.61
2001 959.6
2002 971.95
2003 996.13
2004 1,000.65
2005 1,015.99
2006 1,039.65
2007 1,047.06
2008 1,086.37
2009 1,110.24
2010 1,137.09
2011 1,151.7
2012 1,159.73
2013 1,184.32
2014 1,208.5
2015 1,234.74
2016 1,278.57
2017 1,302.55
2018 1,338.56
2019 1,367.58
2020 1,385.17
2021 1,433.43
2022-10 1,555.77
Today 1,562.49

All available years

Today's value of norwegian kroner 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 |

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