kr

Value of 1962 Norwegian Kroner today

kr100 in 1962
kr1,359.56 in 2022

The inflation rate in Norway between 1962 and today has been 1,259.56%, which translates into a total increase of kr1,259.56. This means that 100 kroner in 1962 are equivalent to 1,359.56 kroner in 2022. In other words, the purchasing power of kr100 in 1962 equals kr1,359.56 today. The average annual inflation rate between these periods has been 4.45%.

Inflation timeline in Norway (1962 - 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 1962-2021 1,198.42%
Cumulative inflation 1962-today 1,259.56%
Avg. Annual inflation 1962-2021 4.44%
CPI 1962 8.94
CPI 2021 116.09
CPI 2022-04 (latest official data) 121.2
CPI today 121.56

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 1962 and 2021, use the corresponding CPI values:

Value2021
=Value1962 ×
CPI2021/CPI1962
=kr 100 ×
116.09/8.94
kr1,298.42

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.56:

Valuetoday
=Value1962 ×
CPItoday/CPI1962
=kr 100 ×
121.56/8.94
kr1,359.56

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 59 years between 1962 and 2021 and the average inflation rate was 4.4411%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.044411)59
kr1,298.42

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1962 kr12.98 kroner in 2021
kr5 kroner in 1962 kr64.92 kroner in 2021
kr10 kroner in 1962 kr129.84 kroner in 2021
kr50 kroner in 1962 kr649.21 kroner in 2021
kr100 kroner in 1962 kr1,298.42 kroner in 2021
kr500 kroner in 1962 kr6,492.09 kroner in 2021
kr1,000 kroner in 1962 kr12,984.19 kroner in 2021
kr5,000 kroner in 1962 kr64,920.94 kroner in 2021
kr10,000 kroner in 1962 kr129,841.88 kroner in 2021
kr50,000 kroner in 1962 kr649,209.38 kroner in 2021
kr100,000 kroner in 1962 kr1,298,418.77 kroner in 2021
kr500,000 kroner in 1962 kr6,492,093.84 kroner in 2021
kr1,000,000 kroner in 1962 kr12,984,187.69 kroner in 2021
Cumulative inflation From 1962 1,259.56%
Avg. annual inflation From 1962 4.45%
CPI 1962 8.94
CPI today 121.56

Value of Krone over time (by year)

Period Value
1962 100
1963 102.47
1964 108.48
1965 113.03
1966 116.7
1967 122.04
1968 126.25
1969 129.99
1970 143.82
1971 152.77
1972 163.86
1973 176.02
1974 192.59
1975 215.1
1976 234.8
1977 256.18
1978 277.09
1979 289.58
1980 321.09
1981 364.89
1982 406.27
1983 440.67
1984 468.07
1985 494.82
1986 530.33
1987 576.56
1988 615.05
1989 643.01
1990 669.57
1991 692.6
1992 708.72
1993 724.94
1994 734.91
1995 752.99
1996 762.5
1997 782.07
1998 799.69
1999 818.61
2000 843.86
2001 869.22
2002 880.4
2003 902.3
2004 906.4
2005 920.29
2006 941.73
2007 948.44
2008 984.04
2009 1,005.67
2010 1,029.99
2011 1,043.23
2012 1,050.5
2013 1,072.77
2014 1,094.68
2015 1,118.44
2016 1,158.15
2017 1,179.86
2018 1,212.48
2019 1,238.77
2020 1,254.71
2021 1,298.42
2022-04 1,355.55
Today 1,359.56

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 |

Other currencies: