Value of 1962 Norwegian Kroner today

kr100 in 1962

kr1,268.07 in 2019

The inflation rate in Norway between 1962 and today has been 1,168.07%, which translates into a total increase of kr1,168.07. This means that 100 kroner in 1962 are equivalent to 1,268.07 kroner in 2019. In other words, the purchasing power of kr100 in 1962 equals kr1,268.07 today. The average annual inflation rate has been 4.48%.

Inflation timeline in Norway (1962-2019)

The following chart depicts the equivalence of kr100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1962-2019) 1,166.11%
Total Inflation* 1,168.07%
Annual inflation avg. (1962-2019) 4.55%
Annual inflation avg.* 4.48%
CPI 1962 8.67
CPI 2019 109.8
CPI today* 109.97
kr1 in 1962 kr12.66 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 57 years between 1962 and 2019 and the average inflation rate has been 4.4768%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)57 = kr1,266.11

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 1962 was 8.67 and the CPI today is 109.97. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/8.67
= kr1,266.11

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1962 kr12.68 kroner today
kr5 kroner in 1962 kr63.4 kroner today
kr10 kroner in 1962 kr126.81 kroner today
kr50 kroner in 1962 kr634.04 kroner today
kr100 kroner in 1962 kr1,268.07 kroner today
kr500 kroner in 1962 kr6,340.36 kroner today
kr1,000 kroner in 1962 kr12,680.72 kroner today
kr5,000 kroner in 1962 kr63,403.58 kroner today
kr10,000 kroner in 1962 kr126,807.15 kroner today
kr50,000 kroner in 1962 kr634,035.75 kroner today
kr100,000 kroner in 1962 kr1,268,071.51 kroner today
kr500,000 kroner in 1962 kr6,340,357.53 kroner today
kr1,000,000 kroner in 1962 kr12,680,715.07 kroner today

Value of Krone in time (by year)

Period Value
1962 100
1963 104.96
1964 106.61
1965 114.05
1966 117.36
1967 122.31
1968 128.1
1969 132.23
1970 136.36
1971 153.72
1972 161.16
1973 173.55
1974 187.6
1975 206.61
1976 229.75
1977 247.93
1978 271.07
1979 292.56
1980 305.57
1981 347.08
1982 388.6
1983 434.72
1984 465.85
1985 493.53
1986 521.2
1987 567.33
1988 608.84
1989 643.43
1990 671.11
1991 699.93
1992 719.54
1993 735.68
1994 749.52
1995 763.36
1996 779.5
1997 793.34
1998 811.79
1999 831.39
2000 854.45
2001 879.82
2002 898.27
2003 922.48
2004 928.25
2005 938.63
2006 955.92
2007 976.68
2008 1,004.35
2009 1,026.26
2010 1,047.02
2011 1,075.85
2012 1,077
2013 1,091.99
2014 1,113.9
2015 1,136.96
2016 1,163.48
2017 1,203.84
2018 1,223.44
2019 1,266.11
Today 1,268.07