Value of 1968 Norwegian Kroner today

kr100 in 1968

kr990.49 in 2019

The inflation rate in Norway between 1968 and today has been 890.49%, which translates into a total increase of kr890.49. This means that 100 kroner in 1968 are equivalent to 990.49 kroner in 2019. In other words, the purchasing power of kr100 in 1968 equals kr990.49 today. The average annual inflation rate has been 4.51%.

Inflation timeline in Norway (1968-2019)

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 (1968-2019) 888.38%
Total Inflation* 890.49%
Annual inflation avg. (1968-2019) 4.59%
Annual inflation avg.* 4.51%
CPI 1968 11.11
CPI 2019 109.8
CPI today* 110.03
kr1 in 1968 kr9.88 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 51 years between 1968 and 2019 and the average inflation rate has been 4.5083%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.05)51 = kr988.38

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 1968 was 11.11 and the CPI today is 110.03. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/11.11
= kr988.38

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1968 kr9.9 kroner today
kr5 kroner in 1968 kr49.52 kroner today
kr10 kroner in 1968 kr99.05 kroner today
kr50 kroner in 1968 kr495.24 kroner today
kr100 kroner in 1968 kr990.49 kroner today
kr500 kroner in 1968 kr4,952.44 kroner today
kr1,000 kroner in 1968 kr9,904.88 kroner today
kr5,000 kroner in 1968 kr49,524.4 kroner today
kr10,000 kroner in 1968 kr99,048.79 kroner today
kr50,000 kroner in 1968 kr495,243.96 kroner today
kr100,000 kroner in 1968 kr990,487.92 kroner today
kr500,000 kroner in 1968 kr4,952,439.59 kroner today
kr1,000,000 kroner in 1968 kr9,904,879.19 kroner today

Value of Krone in time (by year)

Period Value
1968 100
1969 103.23
1970 106.45
1971 120
1972 125.81
1973 135.48
1974 146.45
1975 161.29
1976 179.35
1977 193.55
1978 211.61
1979 228.39
1980 238.54
1981 270.95
1982 303.36
1983 339.36
1984 363.67
1985 385.27
1986 406.87
1987 442.88
1988 475.29
1989 502.29
1990 523.9
1991 546.4
1992 561.7
1993 574.31
1994 585.11
1995 595.91
1996 608.51
1997 619.31
1998 633.72
1999 649.02
2000 667.02
2001 686.83
2002 701.23
2003 720.13
2004 724.63
2005 732.73
2006 746.24
2007 762.44
2008 784.04
2009 801.15
2010 817.35
2011 839.85
2012 840.75
2013 852.46
2014 869.56
2015 887.56
2016 908.27
2017 939.77
2018 955.08
2019 988.38
Today 990.49