kr

Value of 1967 Norwegian Kroner today

kr100 in 1967
kr1,138.5 in 2022

The inflation rate in Norway between 1967 and today has been 1,038.5%, which translates into a total increase of kr1,038.5. This means that 100 kroner in 1967 are equivalent to 1,138.5 kroner in 2022. In other words, the purchasing power of kr100 in 1967 equals kr1,138.5 today. The average annual inflation rate between these periods has been 4.52%.

Inflation timeline in Norway (1967 - 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 1967-2021 963.89%
Cumulative inflation 1967-today 1,038.5%
Avg. Annual inflation 1967-2021 4.48%
CPI 1967 10.91
CPI 2021 116.09
CPI 2022-08 (latest official data) 123.9
CPI today 124.23

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 1967 and 2021, use the corresponding CPI values:

Value2021
=Value1967 ×
CPI2021/CPI1967
=kr 100 ×
116.09/10.91
kr1,063.89

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.23:

Valuetoday
=Value1967 ×
CPItoday/CPI1967
=kr 100 ×
124.23/10.91
kr1,138.5

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 54 years between 1967 and 2021 and the average inflation rate was 4.476%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.04476)54
kr1,063.89

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1967 kr10.64 kroner in 2021
kr5 kroner in 1967 kr53.19 kroner in 2021
kr10 kroner in 1967 kr106.39 kroner in 2021
kr50 kroner in 1967 kr531.95 kroner in 2021
kr100 kroner in 1967 kr1,063.89 kroner in 2021
kr500 kroner in 1967 kr5,319.47 kroner in 2021
kr1,000 kroner in 1967 kr10,638.93 kroner in 2021
kr5,000 kroner in 1967 kr53,194.66 kroner in 2021
kr10,000 kroner in 1967 kr106,389.31 kroner in 2021
kr50,000 kroner in 1967 kr531,946.57 kroner in 2021
kr100,000 kroner in 1967 kr1,063,893.14 kroner in 2021
kr500,000 kroner in 1967 kr5,319,465.69 kroner in 2021
kr1,000,000 kroner in 1967 kr10,638,931.38 kroner in 2021
Cumulative inflation From 1967 1,038.5%
Avg. annual inflation From 1967 4.52%
CPI 1967 10.91
CPI today 124.23

Value of Krone over time (by year)

Period Value
1967 100
1968 103.45
1969 106.51
1970 117.84
1971 125.18
1972 134.26
1973 144.23
1974 157.8
1975 176.25
1976 192.39
1977 209.91
1978 227.04
1979 237.28
1980 263.09
1981 298.98
1982 332.89
1983 361.07
1984 383.52
1985 405.44
1986 434.54
1987 472.42
1988 503.96
1989 526.87
1990 548.63
1991 567.5
1992 580.71
1993 594
1994 602.17
1995 616.98
1996 624.77
1997 640.81
1998 655.24
1999 670.75
2000 691.44
2001 712.21
2002 721.38
2003 739.33
2004 742.69
2005 754.06
2006 771.63
2007 777.13
2008 806.3
2009 824.02
2010 843.95
2011 854.8
2012 860.75
2013 879
2014 896.95
2015 916.42
2016 948.96
2017 966.75
2018 993.48
2019 1,015.02
2020 1,028.08
2021 1,063.89
2022-08 1,135.45
Today 1,138.5

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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