Value of 1965 Norwegian Kroner today

kr100 in 1965

kr1,112.83 in 2019

The inflation rate in Norway between 1965 and today has been 1,012.83%, which translates into a total increase of kr1,012.83. This means that 100 kroner in 1965 are equivalent to 1,112.83 kroner in 2019. In other words, the purchasing power of kr100 in 1965 equals kr1,112.83 today. The average annual inflation rate has been 4.48%.

Inflation timeline in Norway (1965-2019)

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 (1965-2019) 1,010.14%
Total Inflation* 1,012.83%
Annual inflation avg. (1965-2019) 4.56%
Annual inflation avg.* 4.48%
CPI 1965 9.89
CPI 2019 109.8
CPI today* 110.07
kr1 in 1965 kr11.1 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 54 years between 1965 and 2019 and the average inflation rate has been 4.4783%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)54 = kr1,110.14

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 1965 was 9.89 and the CPI today is 110.07. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/9.89
= kr1,110.14

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1965 kr11.13 kroner today
kr5 kroner in 1965 kr55.64 kroner today
kr10 kroner in 1965 kr111.28 kroner today
kr50 kroner in 1965 kr556.41 kroner today
kr100 kroner in 1965 kr1,112.83 kroner today
kr500 kroner in 1965 kr5,564.14 kroner today
kr1,000 kroner in 1965 kr11,128.28 kroner today
kr5,000 kroner in 1965 kr55,641.38 kroner today
kr10,000 kroner in 1965 kr111,282.76 kroner today
kr50,000 kroner in 1965 kr556,413.8 kroner today
kr100,000 kroner in 1965 kr1,112,827.6 kroner today
kr500,000 kroner in 1965 kr5,564,137.98 kroner today
kr1,000,000 kroner in 1965 kr11,128,275.95 kroner today

Value of Krone in time (by year)

Period Value
1965 100
1966 102.9
1967 107.25
1968 112.32
1969 115.94
1970 119.57
1971 134.78
1972 141.3
1973 152.17
1974 164.49
1975 181.16
1976 201.45
1977 217.39
1978 237.68
1979 256.52
1980 267.93
1981 304.33
1982 340.73
1983 381.17
1984 408.47
1985 432.73
1986 457
1987 497.44
1988 533.84
1989 564.17
1990 588.43
1991 613.71
1992 630.9
1993 645.05
1994 657.19
1995 669.32
1996 683.47
1997 695.61
1998 711.78
1999 728.97
2000 749.19
2001 771.44
2002 787.61
2003 808.84
2004 813.9
2005 823
2006 838.17
2007 856.36
2008 880.63
2009 899.84
2010 918.04
2011 943.31
2012 944.33
2013 957.47
2014 976.68
2015 996.9
2016 1,020.16
2017 1,055.54
2018 1,072.73
2019 1,110.14
Today 1,112.83