Value of 1967 Norwegian Kroner today

kr100 in 1967

kr1,037.54 in 2019

The inflation rate in Norway between 1967 and today has been 937.54%, which translates into a total increase of kr937.54. This means that 100 kroner in 1967 are equivalent to 1,037.54 kroner in 2019. In other words, the purchasing power of kr100 in 1967 equals kr1,037.54 today. The average annual inflation rate has been 4.51%.

Inflation timeline in Norway (1967-2019)

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 (1967-2019) 935.13%
Total Inflation* 937.54%
Annual inflation avg. (1967-2019) 4.6%
Annual inflation avg.* 4.51%
CPI 1967 10.61
CPI 2019 109.8
CPI today* 110.06
kr1 in 1967 kr10.35 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 52 years between 1967 and 2019 and the average inflation rate has been 4.5129%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.05)52 = kr1,035.13

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 1967 was 10.61 and the CPI today is 110.06. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/10.61
= kr1,035.13

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1967 kr10.38 kroner today
kr5 kroner in 1967 kr51.88 kroner today
kr10 kroner in 1967 kr103.75 kroner today
kr50 kroner in 1967 kr518.77 kroner today
kr100 kroner in 1967 kr1,037.54 kroner today
kr500 kroner in 1967 kr5,187.68 kroner today
kr1,000 kroner in 1967 kr10,375.36 kroner today
kr5,000 kroner in 1967 kr51,876.79 kroner today
kr10,000 kroner in 1967 kr103,753.59 kroner today
kr50,000 kroner in 1967 kr518,767.94 kroner today
kr100,000 kroner in 1967 kr1,037,535.87 kroner today
kr500,000 kroner in 1967 kr5,187,679.35 kroner today
kr1,000,000 kroner in 1967 kr10,375,358.7 kroner today

Value of Krone in time (by year)

Period Value
1967 100
1968 104.73
1969 108.11
1970 111.49
1971 125.68
1972 131.76
1973 141.89
1974 153.38
1975 168.92
1976 187.84
1977 202.7
1978 221.62
1979 239.19
1980 249.83
1981 283.76
1982 317.7
1983 355.41
1984 380.87
1985 403.49
1986 426.12
1987 463.83
1988 497.77
1989 526.05
1990 548.68
1991 572.24
1992 588.27
1993 601.47
1994 612.78
1995 624.09
1996 637.29
1997 648.61
1998 663.69
1999 679.72
2000 698.57
2001 719.31
2002 734.4
2003 754.19
2004 758.91
2005 767.39
2006 781.53
2007 798.5
2008 821.13
2009 839.04
2010 856.01
2011 879.58
2012 880.52
2013 892.78
2014 910.69
2015 929.54
2016 951.23
2017 984.22
2018 1,000.25
2019 1,035.13
Today 1,037.54