kr

Value of 1965 Norwegian Kroner today

kr100 in 1965
kr1,252.72 in 2022

The inflation rate in Norway between 1965 and today has been 1,152.72%, which translates into a total increase of kr1,152.72. This means that 100 kroner in 1965 are equivalent to 1,252.72 kroner in 2022. In other words, the purchasing power of kr100 in 1965 equals kr1,252.72 today. The average annual inflation rate between these periods has been 4.53%.

Inflation timeline in Norway (1965 - 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 1965-2021 1,048.78%
Cumulative inflation 1965-today 1,152.72%
Avg. Annual inflation 1965-2021 4.46%
CPI 1965 10.11
CPI 2021 116.09
CPI 2022-10 (latest official data) 126
CPI today 126.6

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 1965 and 2021, use the corresponding CPI values:

Value2021
=Value1965 ×
CPI2021/CPI1965
=kr 100 ×
116.09/10.11
kr1,148.78

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.6:

Valuetoday
=Value1965 ×
CPItoday/CPI1965
=kr 100 ×
126.6/10.11
kr1,252.72

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 56 years between 1965 and 2021 and the average inflation rate was 4.4559%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.044559)56
kr1,148.78

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1965 kr11.49 kroner in 2021
kr5 kroner in 1965 kr57.44 kroner in 2021
kr10 kroner in 1965 kr114.88 kroner in 2021
kr50 kroner in 1965 kr574.39 kroner in 2021
kr100 kroner in 1965 kr1,148.78 kroner in 2021
kr500 kroner in 1965 kr5,743.89 kroner in 2021
kr1,000 kroner in 1965 kr11,487.78 kroner in 2021
kr5,000 kroner in 1965 kr57,438.89 kroner in 2021
kr10,000 kroner in 1965 kr114,877.79 kroner in 2021
kr50,000 kroner in 1965 kr574,388.93 kroner in 2021
kr100,000 kroner in 1965 kr1,148,777.86 kroner in 2021
kr500,000 kroner in 1965 kr5,743,889.32 kroner in 2021
kr1,000,000 kroner in 1965 kr11,487,778.64 kroner in 2021
Cumulative inflation From 1965 1,152.72%
Avg. annual inflation From 1965 4.53%
CPI 1965 10.11
CPI today 126.6

Value of Krone over time (by year)

Period Value
1965 100
1966 103.25
1967 107.98
1968 111.7
1969 115.01
1970 127.25
1971 135.17
1972 144.98
1973 155.73
1974 170.39
1975 190.31
1976 207.74
1977 226.65
1978 245.15
1979 256.21
1980 284.08
1981 322.84
1982 359.45
1983 389.88
1984 414.12
1985 437.79
1986 469.21
1987 510.11
1988 544.17
1989 568.9
1990 592.41
1991 612.77
1992 627.04
1993 641.39
1994 650.21
1995 666.21
1996 674.62
1997 691.94
1998 707.52
1999 724.26
2000 746.61
2001 769.04
2002 778.94
2003 798.31
2004 801.94
2005 814.23
2006 833.2
2007 839.13
2008 870.63
2009 889.76
2010 911.29
2011 923
2012 929.43
2013 949.14
2014 968.52
2015 989.54
2016 1,024.67
2017 1,043.89
2018 1,072.75
2019 1,096
2020 1,110.1
2021 1,148.78
2022-10 1,246.82
Today 1,252.72

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 |

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