kr

Value of 1964 Norwegian Kroner today

kr100 in 1964
kr1,381.72 in 2024

The inflation rate in Norway between 1964 and today has been 1,281.72%, which translates into a total increase of kr1,281.72. This means that 100 kroner in 1964 are equivalent to 1,381.72 kroner in 2024. In other words, the purchasing power of kr100 in 1964 equals kr1,381.72 today. The average annual inflation rate between these periods has been 4.47%.

Inflation timeline in Norway (1964 - 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 1964-2023 1,235.72%
Cumulative inflation 1964-today 1,281.72%
Avg. Annual inflation 1964-2023 4.49%
CPI 1964 9.7
CPI 2023 129.56
CPI 2024-04 (latest official data) 133.7
CPI today 134.02

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 1964 and 2023, use the corresponding CPI values:

Value2023
=Value1964 ×
CPI2023/CPI1964
=kr 100 ×
129.56/9.7
kr1,335.72

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134.02:

Valuetoday
=Value1964 ×
CPItoday/CPI1964
=kr 100 ×
134.02/9.7
kr1,381.72

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 1964 and 2023 and the average inflation rate was 4.4912%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.044912)59
kr1,335.72

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1964 kr13.36 kroner in 2023
kr5 kroner in 1964 kr66.79 kroner in 2023
kr10 kroner in 1964 kr133.57 kroner in 2023
kr50 kroner in 1964 kr667.86 kroner in 2023
kr100 kroner in 1964 kr1,335.72 kroner in 2023
kr500 kroner in 1964 kr6,678.59 kroner in 2023
kr1,000 kroner in 1964 kr13,357.18 kroner in 2023
kr5,000 kroner in 1964 kr66,785.88 kroner in 2023
kr10,000 kroner in 1964 kr133,571.76 kroner in 2023
kr50,000 kroner in 1964 kr667,858.79 kroner in 2023
kr100,000 kroner in 1964 kr1,335,717.57 kroner in 2023
kr500,000 kroner in 1964 kr6,678,587.87 kroner in 2023
kr1,000,000 kroner in 1964 kr13,357,175.73 kroner in 2023
Cumulative inflation From 1964 1,281.72%
Avg. annual inflation From 1964 4.47%
CPI 1964 9.7
CPI today 134.02

Value of Krone over time (by year)

Period Value
1964 100
1965 104.19
1966 107.57
1967 112.5
1968 116.38
1969 119.83
1970 132.57
1971 140.83
1972 151.05
1973 162.25
1974 177.52
1975 198.28
1976 216.44
1977 236.15
1978 255.42
1979 266.94
1980 295.98
1981 336.36
1982 374.5
1983 406.21
1984 431.46
1985 456.12
1986 488.86
1987 531.47
1988 566.95
1989 592.73
1990 617.21
1991 638.43
1992 653.3
1993 668.25
1994 677.44
1995 694.11
1996 702.87
1997 720.91
1998 737.15
1999 754.59
2000 777.87
2001 801.24
2002 811.55
2003 831.74
2004 835.52
2005 848.32
2006 868.08
2007 874.27
2008 907.09
2009 927.02
2010 949.44
2011 961.64
2012 968.35
2013 988.88
2014 1,009.07
2015 1,030.98
2016 1,067.58
2017 1,087.6
2018 1,117.67
2019 1,141.89
2020 1,156.59
2021 1,196.88
2022 1,265.87
2023 1,335.72
2024-04 1,378.42
Today 1,381.72

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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