Value of 1959 Norwegian Kroner today

kr100 in 1959

kr1,332.19 today

The inflation rate in Norway between 1959 and today has been 1,232.19%, which translates into a total increase of kr1,232.19. This means that 100 kroner in 1959 are equivalent to 1,332.19 kroner in 2018. In other words, the purchasing power of kr100 in 1959 equals kr1,332.19 today. The average annual inflation rate has been 4.41%.

Inflation timeline in Norway (1959-2019)

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 (1959-2018) 1,187.28%
Total Inflation* 1,232.19%
Annual inflation avg. (1959-2018) 4.43%
Annual inflation avg.* 4.41%
CPI 1959 8.24
CPI 2018 106.1
CPI today* 109.8
kr1 in 1959 kr12.87 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 59 years between 1959 and 2018 and the average inflation rate has been 4.4102%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)59 = kr1,287.28

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 1959 was 8.24 and the CPI today is 109.8. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
106.1/8.24
= kr1,287.28

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1959 kr13.32 kroner today
kr5 kroner in 1959 kr66.61 kroner today
kr10 kroner in 1959 kr133.22 kroner today
kr50 kroner in 1959 kr666.09 kroner today
kr100 kroner in 1959 kr1,332.19 kroner today
kr500 kroner in 1959 kr6,660.94 kroner today
kr1,000 kroner in 1959 kr13,321.87 kroner today
kr5,000 kroner in 1959 kr66,609.36 kroner today
kr10,000 kroner in 1959 kr133,218.71 kroner today
kr50,000 kroner in 1959 kr666,093.56 kroner today
kr100,000 kroner in 1959 kr1,332,187.12 kroner today
kr500,000 kroner in 1959 kr6,660,935.6 kroner today
kr1,000,000 kroner in 1959 kr13,321,871.21 kroner today

Value of Krone in time (by year)

Period Value
1959 100
1960 100.87
1961 100.87
1962 105.22
1963 110.43
1964 112.17
1965 120
1966 123.48
1967 128.7
1968 134.78
1969 139.13
1970 143.48
1971 161.74
1972 169.57
1973 182.61
1974 197.39
1975 217.39
1976 241.74
1977 260.87
1978 285.22
1979 307.83
1980 321.52
1981 365.19
1982 408.87
1983 457.4
1984 490.16
1985 519.28
1986 548.4
1987 596.93
1988 640.6
1989 677
1990 706.12
1991 736.45
1992 757.08
1993 774.06
1994 788.62
1995 803.18
1996 820.17
1997 834.73
1998 854.14
1999 874.77
2000 899.03
2001 925.72
2002 945.13
2003 970.61
2004 976.68
2005 987.6
2006 1,005.8
2007 1,027.64
2008 1,056.76
2009 1,079.81
2010 1,101.65
2011 1,131.98
2012 1,133.19
2013 1,148.96
2014 1,172.02
2015 1,196.28
2016 1,224.19
2017 1,266.65
2018 1,287.28
Today 1,332.19