Value of 1964 Norwegian Kroner today

kr100 in 1964

kr1,190.12 in 2019

The inflation rate in Norway between 1964 and today has been 1,090.12%, which translates into a total increase of kr1,090.12. This means that 100 kroner in 1964 are equivalent to 1,190.12 kroner in 2019. In other words, the purchasing power of kr100 in 1964 equals kr1,190.12 today. The average annual inflation rate has been 4.52%.

Inflation timeline in Norway (1964-2019)

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 (1964-2019) 1,087.59%
Total Inflation* 1,090.12%
Annual inflation avg. (1964-2019) 4.6%
Annual inflation avg.* 4.52%
CPI 1964 9.25
CPI 2019 109.8
CPI today* 110.03
kr1 in 1964 kr11.88 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 55 years between 1964 and 2019 and the average inflation rate has been 4.5218%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.05)55 = kr1,187.59

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 1964 was 9.25 and the CPI today is 110.03. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/9.25
= kr1,187.59

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1964 kr11.9 kroner today
kr5 kroner in 1964 kr59.51 kroner today
kr10 kroner in 1964 kr119.01 kroner today
kr50 kroner in 1964 kr595.06 kroner today
kr100 kroner in 1964 kr1,190.12 kroner today
kr500 kroner in 1964 kr5,950.61 kroner today
kr1,000 kroner in 1964 kr11,901.22 kroner today
kr5,000 kroner in 1964 kr59,506.08 kroner today
kr10,000 kroner in 1964 kr119,012.17 kroner today
kr50,000 kroner in 1964 kr595,060.83 kroner today
kr100,000 kroner in 1964 kr1,190,121.67 kroner today
kr500,000 kroner in 1964 kr5,950,608.35 kroner today
kr1,000,000 kroner in 1964 kr11,901,216.7 kroner today

Value of Krone in time (by year)

Period Value
1964 100
1965 106.98
1966 110.08
1967 114.73
1968 120.16
1969 124.03
1970 127.91
1971 144.19
1972 151.16
1973 162.79
1974 175.97
1975 193.8
1976 215.5
1977 232.56
1978 254.26
1979 274.42
1980 286.62
1981 325.56
1982 364.5
1983 407.76
1984 436.96
1985 462.92
1986 488.88
1987 532.14
1988 571.08
1989 603.53
1990 629.49
1991 656.53
1992 674.91
1993 690.06
1994 703.04
1995 716.02
1996 731.16
1997 744.14
1998 761.44
1999 779.83
2000 801.46
2001 825.26
2002 842.56
2003 865.28
2004 870.68
2005 880.42
2006 896.64
2007 916.11
2008 942.07
2009 962.62
2010 982.09
2011 1,009.13
2012 1,010.21
2013 1,024.27
2014 1,044.82
2015 1,066.45
2016 1,091.33
2017 1,129.18
2018 1,147.57
2019 1,187.59
Today 1,190.12