kr

Value of 1972 Norwegian Kroner today

kr100 in 1972
kr915.22 in 2024

The inflation rate in Norway between 1972 and today has been 815.22%, which translates into a total increase of kr815.22. This means that 100 kroner in 1972 are equivalent to 915.22 kroner in 2024. In other words, the purchasing power of kr100 in 1972 equals kr915.22 today. The average annual inflation rate between these periods has been 4.35%.

Inflation timeline in Norway (1972 - 2024)

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 1972-2023 784.31%
Cumulative inflation 1972-today 815.22%
Avg. Annual inflation 1972-2023 4.37%
CPI 1972 14.65
CPI 2023 129.56
CPI 2024-04 (latest official data) 133.7
CPI today 134.09

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 1972 and 2023, use the corresponding CPI values:

Value2023
=Value1972 ×
CPI2023/CPI1972
=kr 100 ×
129.56/14.65
kr884.31

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134.09:

Valuetoday
=Value1972 ×
CPItoday/CPI1972
=kr 100 ×
134.09/14.65
kr915.22

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 51 years between 1972 and 2023 and the average inflation rate was 4.3664%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.043664)51
kr884.31

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1972 kr8.84 kroner in 2023
kr5 kroner in 1972 kr44.22 kroner in 2023
kr10 kroner in 1972 kr88.43 kroner in 2023
kr50 kroner in 1972 kr442.15 kroner in 2023
kr100 kroner in 1972 kr884.31 kroner in 2023
kr500 kroner in 1972 kr4,421.53 kroner in 2023
kr1,000 kroner in 1972 kr8,843.07 kroner in 2023
kr5,000 kroner in 1972 kr44,215.34 kroner in 2023
kr10,000 kroner in 1972 kr88,430.69 kroner in 2023
kr50,000 kroner in 1972 kr442,153.45 kroner in 2023
kr100,000 kroner in 1972 kr884,306.9 kroner in 2023
kr500,000 kroner in 1972 kr4,421,534.48 kroner in 2023
kr1,000,000 kroner in 1972 kr8,843,068.96 kroner in 2023
Cumulative inflation From 1972 815.22%
Avg. annual inflation From 1972 4.35%
CPI 1972 14.65
CPI today 134.09

Value of Krone over time (by year)

Period Value
1972 100
1973 107.42
1974 117.53
1975 131.27
1976 143.29
1977 156.34
1978 169.1
1979 176.72
1980 195.95
1981 222.68
1982 247.94
1983 268.93
1984 285.65
1985 301.97
1986 323.64
1987 351.86
1988 375.35
1989 392.41
1990 408.62
1991 422.67
1992 432.51
1993 442.41
1994 448.5
1995 459.53
1996 465.33
1997 477.28
1998 488.03
1999 499.57
2000 514.99
2001 530.46
2002 537.28
2003 550.65
2004 553.15
2005 561.63
2006 574.71
2007 578.81
2008 600.53
2009 613.73
2010 628.58
2011 636.65
2012 641.09
2013 654.68
2014 668.05
2015 682.56
2016 706.79
2017 720.04
2018 739.95
2019 755.99
2020 765.71
2021 792.39
2022 838.06
2023 884.31
2024-04 912.58
Today 915.22

All available years

Today's value of norwegian kroner by year:

1955 | 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 | 2022 | 2023 |

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