Value of 1973 Norwegian Kroner today

kr100 in 1973

kr731.22 in 2019

The inflation rate in Norway between 1973 and today has been 631.22%, which translates into a total increase of kr631.22. This means that 100 kroner in 1973 are equivalent to 731.22 kroner in 2019. In other words, the purchasing power of kr100 in 1973 equals kr731.22 today. The average annual inflation rate has been 4.32%.

Inflation timeline in Norway (1973-2019)

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 (1973-2019) 629.52%
Total Inflation* 631.22%
Annual inflation avg. (1973-2019) 4.41%
Annual inflation avg.* 4.32%
CPI 1973 15.05
CPI 2019 109.8
CPI today* 110.06
kr1 in 1973 kr7.3 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 46 years between 1973 and 2019 and the average inflation rate has been 4.3239%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)46 = kr729.52

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 1973 was 15.05 and the CPI today is 110.06. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/15.05
= kr729.52

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1973 kr7.31 kroner today
kr5 kroner in 1973 kr36.56 kroner today
kr10 kroner in 1973 kr73.12 kroner today
kr50 kroner in 1973 kr365.61 kroner today
kr100 kroner in 1973 kr731.22 kroner today
kr500 kroner in 1973 kr3,656.08 kroner today
kr1,000 kroner in 1973 kr7,312.16 kroner today
kr5,000 kroner in 1973 kr36,560.81 kroner today
kr10,000 kroner in 1973 kr73,121.61 kroner today
kr50,000 kroner in 1973 kr365,608.07 kroner today
kr100,000 kroner in 1973 kr731,216.14 kroner today
kr500,000 kroner in 1973 kr3,656,080.72 kroner today
kr1,000,000 kroner in 1973 kr7,312,161.43 kroner today

Value of Krone in time (by year)

Period Value
1973 100
1974 108.1
1975 119.05
1976 132.38
1977 142.86
1978 156.19
1979 168.57
1980 176.07
1981 199.99
1982 223.91
1983 250.48
1984 268.42
1985 284.37
1986 300.31
1987 326.89
1988 350.81
1989 370.74
1990 386.69
1991 403.3
1992 414.59
1993 423.89
1994 431.87
1995 439.84
1996 449.14
1997 457.11
1998 467.74
1999 479.04
2000 492.33
2001 506.94
2002 517.57
2003 531.53
2004 534.85
2005 540.83
2006 550.79
2007 562.75
2008 578.7
2009 591.32
2010 603.28
2011 619.89
2012 620.56
2013 629.19
2014 641.82
2015 655.11
2016 670.39
2017 693.64
2018 704.94
2019 729.52
Today 731.22