kr

Value of 1959 Norwegian Kroner today

kr100 in 1959
kr1,617.58 in 2024

The inflation rate in Norway between 1959 and today has been 1,517.58%, which translates into a total increase of kr1,517.58. This means that 100 kroner in 1959 are equivalent to 1,617.58 kroner in 2024. In other words, the purchasing power of kr100 in 1959 equals kr1,617.58 today. The average annual inflation rate between these periods has been 4.38%.

Inflation timeline in Norway (1959 - 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 1959-2023 1,463.95%
Cumulative inflation 1959-today 1,517.58%
Avg. Annual inflation 1959-2023 4.39%
CPI 1959 8.28
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 1959 and 2023, use the corresponding CPI values:

Value2023
=Value1959 ×
CPI2023/CPI1959
=kr 100 ×
129.56/8.28
kr1,563.95

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

Valuetoday
=Value1959 ×
CPItoday/CPI1959
=kr 100 ×
134/8.28
kr1,617.58

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 64 years between 1959 and 2023 and the average inflation rate was 4.3902%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.043902)64
kr1,563.95

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1959 kr15.64 kroner in 2023
kr5 kroner in 1959 kr78.2 kroner in 2023
kr10 kroner in 1959 kr156.4 kroner in 2023
kr50 kroner in 1959 kr781.98 kroner in 2023
kr100 kroner in 1959 kr1,563.95 kroner in 2023
kr500 kroner in 1959 kr7,819.77 kroner in 2023
kr1,000 kroner in 1959 kr15,639.55 kroner in 2023
kr5,000 kroner in 1959 kr78,197.74 kroner in 2023
kr10,000 kroner in 1959 kr156,395.48 kroner in 2023
kr50,000 kroner in 1959 kr781,977.42 kroner in 2023
kr100,000 kroner in 1959 kr1,563,954.83 kroner in 2023
kr500,000 kroner in 1959 kr7,819,774.17 kroner in 2023
kr1,000,000 kroner in 1959 kr15,639,548.34 kroner in 2023
Cumulative inflation From 1959 1,517.58%
Avg. annual inflation From 1959 4.38%
CPI 1959 8.28
CPI today 134

Value of Krone over time (by year)

Period Value
1959 100
1960 100.36
1961 102.52
1962 107.93
1963 110.6
1964 117.09
1965 121.99
1966 125.96
1967 131.72
1968 136.27
1969 140.3
1970 155.23
1971 164.89
1972 176.86
1973 189.98
1974 207.86
1975 232.16
1976 253.42
1977 276.5
1978 299.06
1979 312.55
1980 346.55
1981 393.83
1982 438.49
1983 475.61
1984 505.19
1985 534.06
1986 572.39
1987 622.28
1988 663.83
1989 694.01
1990 722.68
1991 747.52
1992 764.93
1993 782.43
1994 793.19
1995 812.71
1996 822.97
1997 844.1
1998 863.11
1999 883.53
2000 910.79
2001 938.15
2002 950.22
2003 973.86
2004 978.29
2005 993.28
2006 1,016.41
2007 1,023.66
2008 1,062.09
2009 1,085.42
2010 1,111.68
2011 1,125.96
2012 1,133.81
2013 1,157.85
2014 1,181.49
2015 1,207.14
2016 1,250
2017 1,273.44
2018 1,308.64
2019 1,337.01
2020 1,354.21
2021 1,401.39
2022 1,482.17
2023 1,563.95
2024-06 1,615.16
Today 1,617.58

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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