Value of 1974 Norwegian Kroner today

kr100 in 1974

kr676.46 in 2019

The inflation rate in Norway between 1974 and today has been 576.46%, which translates into a total increase of kr576.46. This means that 100 kroner in 1974 are equivalent to 676.46 kroner in 2019. In other words, the purchasing power of kr100 in 1974 equals kr676.46 today. The average annual inflation rate has been 4.24%.

Inflation timeline in Norway (1974-2019)

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 (1974-2019) 574.89%
Total Inflation* 576.46%
Annual inflation avg. (1974-2019) 4.33%
Annual inflation avg.* 4.24%
CPI 1974 16.27
CPI 2019 109.8
CPI today* 110.06
kr1 in 1974 kr6.75 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 45 years between 1974 and 2019 and the average inflation rate has been 4.2434%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)45 = kr674.89

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 1974 was 16.27 and the CPI today is 110.06. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/16.27
= kr674.89

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1974 kr6.76 kroner today
kr5 kroner in 1974 kr33.82 kroner today
kr10 kroner in 1974 kr67.65 kroner today
kr50 kroner in 1974 kr338.23 kroner today
kr100 kroner in 1974 kr676.46 kroner today
kr500 kroner in 1974 kr3,382.28 kroner today
kr1,000 kroner in 1974 kr6,764.55 kroner today
kr5,000 kroner in 1974 kr33,822.76 kroner today
kr10,000 kroner in 1974 kr67,645.52 kroner today
kr50,000 kroner in 1974 kr338,227.6 kroner today
kr100,000 kroner in 1974 kr676,455.19 kroner today
kr500,000 kroner in 1974 kr3,382,275.96 kroner today
kr1,000,000 kroner in 1974 kr6,764,551.92 kroner today

Value of Krone in time (by year)

Period Value
1974 100
1975 110.13
1976 122.47
1977 132.16
1978 144.49
1979 155.95
1980 162.88
1981 185.01
1982 207.14
1983 231.72
1984 248.32
1985 263.07
1986 277.82
1987 302.41
1988 324.54
1989 342.97
1990 357.73
1991 373.09
1992 383.54
1993 392.15
1994 399.52
1995 406.9
1996 415.5
1997 422.88
1998 432.71
1999 443.16
2000 455.46
2001 468.98
2002 478.81
2003 491.72
2004 494.79
2005 500.33
2006 509.55
2007 520.61
2008 535.36
2009 547.04
2010 558.1
2011 573.47
2012 574.08
2013 582.07
2014 593.75
2015 606.05
2016 620.18
2017 641.7
2018 652.14
2019 674.89
Today 676.46