Value of 1966 Norwegian Kroner today

kr100 in 1966

kr1,081.38 in 2019

The inflation rate in Norway between 1966 and today has been 981.38%, which translates into a total increase of kr981.38. This means that 100 kroner in 1966 are equivalent to 1,081.38 kroner in 2019. In other words, the purchasing power of kr100 in 1966 equals kr1,081.38 today. The average annual inflation rate has been 4.51%.

Inflation timeline in Norway (1966-2019)

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 (1966-2019) 978.87%
Total Inflation* 981.38%
Annual inflation avg. (1966-2019) 4.59%
Annual inflation avg.* 4.51%
CPI 1966 10.18
CPI 2019 109.8
CPI today* 110.06
kr1 in 1966 kr10.79 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 53 years between 1966 and 2019 and the average inflation rate has been 4.5076%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.05)53 = kr1,078.87

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 1966 was 10.18 and the CPI today is 110.06. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/10.18
= kr1,078.87

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1966 kr10.81 kroner today
kr5 kroner in 1966 kr54.07 kroner today
kr10 kroner in 1966 kr108.14 kroner today
kr50 kroner in 1966 kr540.69 kroner today
kr100 kroner in 1966 kr1,081.38 kroner today
kr500 kroner in 1966 kr5,406.88 kroner today
kr1,000 kroner in 1966 kr10,813.76 kroner today
kr5,000 kroner in 1966 kr54,068.78 kroner today
kr10,000 kroner in 1966 kr108,137.56 kroner today
kr50,000 kroner in 1966 kr540,687.79 kroner today
kr100,000 kroner in 1966 kr1,081,375.57 kroner today
kr500,000 kroner in 1966 kr5,406,877.86 kroner today
kr1,000,000 kroner in 1966 kr10,813,755.72 kroner today

Value of Krone in time (by year)

Period Value
1966 100
1967 104.23
1968 109.15
1969 112.68
1970 116.2
1971 130.99
1972 137.32
1973 147.89
1974 159.86
1975 176.06
1976 195.77
1977 211.27
1978 230.99
1979 249.3
1980 260.38
1981 295.76
1982 331.13
1983 370.43
1984 396.96
1985 420.54
1986 444.12
1987 483.43
1988 518.8
1989 548.28
1990 571.86
1991 596.42
1992 613.13
1993 626.88
1994 638.67
1995 650.46
1996 664.22
1997 676.01
1998 691.73
1999 708.44
2000 728.09
2001 749.7
2002 765.43
2003 786.06
2004 790.97
2005 799.82
2006 814.55
2007 832.24
2008 855.82
2009 874.49
2010 892.18
2011 916.74
2012 917.73
2013 930.5
2014 949.17
2015 968.82
2016 991.42
2017 1,025.81
2018 1,042.51
2019 1,078.87
Today 1,081.38