kr

Value of 1974 Norwegian Kroner today

kr100 in 1974
kr706.47 in 2022

The inflation rate in Norway between 1974 and today has been 606.47%, which translates into a total increase of kr606.47. This means that 100 kroner in 1974 are equivalent to 706.47 kroner in 2022. In other words, the purchasing power of kr100 in 1974 equals kr706.47 today. The average annual inflation rate between these periods has been 4.16%.

Inflation timeline in Norway (1974 - 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 1974-2021 574.21%
Cumulative inflation 1974-today 606.47%
Avg. Annual inflation 1974-2021 4.14%
CPI 1974 17.22
CPI 2021 116.09
CPI 2022-04 (latest official data) 121.2
CPI today 121.65

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 1974 and 2021, use the corresponding CPI values:

Value2021
=Value1974 ×
CPI2021/CPI1974
=kr 100 ×
116.09/17.22
kr674.21

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.65:

Valuetoday
=Value1974 ×
CPItoday/CPI1974
=kr 100 ×
121.65/17.22
kr706.47

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 47 years between 1974 and 2021 and the average inflation rate was 4.1439%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.041439)47
kr674.21

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1974 kr6.74 kroner in 2021
kr5 kroner in 1974 kr33.71 kroner in 2021
kr10 kroner in 1974 kr67.42 kroner in 2021
kr50 kroner in 1974 kr337.1 kroner in 2021
kr100 kroner in 1974 kr674.21 kroner in 2021
kr500 kroner in 1974 kr3,371.03 kroner in 2021
kr1,000 kroner in 1974 kr6,742.05 kroner in 2021
kr5,000 kroner in 1974 kr33,710.25 kroner in 2021
kr10,000 kroner in 1974 kr67,420.5 kroner in 2021
kr50,000 kroner in 1974 kr337,102.51 kroner in 2021
kr100,000 kroner in 1974 kr674,205.02 kroner in 2021
kr500,000 kroner in 1974 kr3,371,025.11 kroner in 2021
kr1,000,000 kroner in 1974 kr6,742,050.23 kroner in 2021
Cumulative inflation From 1974 606.47%
Avg. annual inflation From 1974 4.16%
CPI 1974 17.22
CPI today 121.65

Value of Krone over time (by year)

Period Value
1974 100
1975 111.69
1976 121.92
1977 133.02
1978 143.88
1979 150.37
1980 166.72
1981 189.47
1982 210.96
1983 228.82
1984 243.04
1985 256.93
1986 275.37
1987 299.38
1988 319.37
1989 333.88
1990 347.68
1991 359.63
1992 368
1993 376.42
1994 381.6
1995 390.99
1996 395.93
1997 406.09
1998 415.24
1999 425.06
2000 438.18
2001 451.34
2002 457.15
2003 468.52
2004 470.65
2005 477.86
2006 488.99
2007 492.48
2008 510.97
2009 522.19
2010 534.82
2011 541.7
2012 545.47
2013 557.04
2014 568.41
2015 580.75
2016 601.37
2017 612.65
2018 629.58
2019 643.23
2020 651.51
2021 674.21
2022-04 703.87
Today 706.47

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: