Value of 1958 Norwegian Kroner today

kr100 in 1958

kr1,421.12 in 2019

The inflation rate in Norway between 1958 and today has been 1,321.12%, which translates into a total increase of kr1,321.12. This means that 100 kroner in 1958 are equivalent to 1,421.12 kroner in 2019. In other words, the purchasing power of kr100 in 1958 equals kr1,421.12 today. The average annual inflation rate has been 4.37%.

Inflation timeline in Norway (1958-2019)

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 (1958-2019) 1,318.51%
Total Inflation* 1,321.12%
Annual inflation avg. (1958-2019) 4.44%
Annual inflation avg.* 4.37%
CPI 1958 7.74
CPI 2019 109.8
CPI today* 110
kr1 in 1958 kr14.19 in 2019

* 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 1958 and 2019 and the average inflation rate has been 4.3736%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)61 = kr1,418.51

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 1958 was 7.74 and the CPI today is 110. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/7.74
= kr1,418.51

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1958 kr14.21 kroner today
kr5 kroner in 1958 kr71.06 kroner today
kr10 kroner in 1958 kr142.11 kroner today
kr50 kroner in 1958 kr710.56 kroner today
kr100 kroner in 1958 kr1,421.12 kroner today
kr500 kroner in 1958 kr7,105.61 kroner today
kr1,000 kroner in 1958 kr14,211.22 kroner today
kr5,000 kroner in 1958 kr71,056.1 kroner today
kr10,000 kroner in 1958 kr142,112.2 kroner today
kr50,000 kroner in 1958 kr710,560.98 kroner today
kr100,000 kroner in 1958 kr1,421,121.96 kroner today
kr500,000 kroner in 1958 kr7,105,609.81 kroner today
kr1,000,000 kroner in 1958 kr14,211,219.63 kroner today

Value of Krone in time (by year)

Period Value
1958 100
1959 106.48
1960 107.41
1961 107.41
1962 112.04
1963 117.59
1964 119.44
1965 127.78
1966 131.48
1967 137.04
1968 143.52
1969 148.15
1970 152.78
1971 172.22
1972 180.56
1973 194.44
1974 210.19
1975 231.48
1976 257.41
1977 277.78
1978 303.7
1979 327.78
1980 342.35
1981 388.86
1982 435.37
1983 487.05
1984 521.93
1985 552.94
1986 583.94
1987 635.62
1988 682.13
1989 720.88
1990 751.89
1991 784.19
1992 806.15
1993 824.24
1994 839.74
1995 855.24
1996 873.33
1997 888.83
1998 909.5
1999 931.46
2000 957.3
2001 985.72
2002 1,006.39
2003 1,033.52
2004 1,039.98
2005 1,051.61
2006 1,070.99
2007 1,094.24
2008 1,125.25
2009 1,149.8
2010 1,173.05
2011 1,205.35
2012 1,206.64
2013 1,223.43
2014 1,247.98
2015 1,273.82
2016 1,303.53
2017 1,348.75
2018 1,370.71
2019 1,418.51
Today 1,421.12