kr

Value of 1973 Norwegian Kroner today

kr100 in 1973
kr765.67 in 2022

The inflation rate in Norway between 1973 and today has been 665.67%, which translates into a total increase of kr665.67. This means that 100 kroner in 1973 are equivalent to 765.67 kroner in 2022. In other words, the purchasing power of kr100 in 1973 equals kr765.67 today. The average annual inflation rate between these periods has been 4.24%.

Inflation timeline in Norway (1973 - 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 1973-2021 637.66%
Cumulative inflation 1973-today 665.67%
Avg. Annual inflation 1973-2021 4.25%
CPI 1973 15.74
CPI 2021 116.09
CPI 2022-03 (latest official data) 119.8
CPI today 120.5

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 1973 and 2021, use the corresponding CPI values:

Value2021
=Value1973 ×
CPI2021/CPI1973
=kr 100 ×
116.09/15.74
kr737.66

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.5:

Valuetoday
=Value1973 ×
CPItoday/CPI1973
=kr 100 ×
120.5/15.74
kr765.67

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 48 years between 1973 and 2021 and the average inflation rate was 4.251%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.04251)48
kr737.66

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1973 kr7.38 kroner in 2021
kr5 kroner in 1973 kr36.88 kroner in 2021
kr10 kroner in 1973 kr73.77 kroner in 2021
kr50 kroner in 1973 kr368.83 kroner in 2021
kr100 kroner in 1973 kr737.66 kroner in 2021
kr500 kroner in 1973 kr3,688.3 kroner in 2021
kr1,000 kroner in 1973 kr7,376.6 kroner in 2021
kr5,000 kroner in 1973 kr36,882.98 kroner in 2021
kr10,000 kroner in 1973 kr73,765.97 kroner in 2021
kr50,000 kroner in 1973 kr368,829.84 kroner in 2021
kr100,000 kroner in 1973 kr737,659.68 kroner in 2021
kr500,000 kroner in 1973 kr3,688,298.39 kroner in 2021
kr1,000,000 kroner in 1973 kr7,376,596.79 kroner in 2021
Cumulative inflation From 1973 665.67%
Avg. annual inflation From 1973 4.24%
CPI 1973 15.74
CPI today 120.5

Value of Krone over time (by year)

Period Value
1973 100
1974 109.41
1975 122.2
1976 133.4
1977 145.54
1978 157.42
1979 164.52
1980 182.42
1981 207.3
1982 230.81
1983 250.35
1984 265.92
1985 281.12
1986 301.29
1987 327.55
1988 349.42
1989 365.31
1990 380.4
1991 393.48
1992 402.64
1993 411.85
1994 417.52
1995 427.79
1996 433.19
1997 444.31
1998 454.32
1999 465.07
2000 479.42
2001 493.82
2002 500.17
2003 512.62
2004 514.95
2005 522.84
2006 535.02
2007 538.83
2008 559.06
2009 571.34
2010 585.16
2011 592.68
2012 596.81
2013 609.47
2014 621.91
2015 635.41
2016 657.97
2017 670.31
2018 688.84
2019 703.77
2020 712.83
2021 737.66
2022-03 761.22
Today 765.67

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 |

Other currencies: