kr

Value of 1975 Norwegian Kroner today

kr100 in 1975
kr647.59 in 2022

The inflation rate in Norway between 1975 and today has been 547.59%, which translates into a total increase of kr547.59. This means that 100 kroner in 1975 are equivalent to 647.59 kroner in 2022. In other words, the purchasing power of kr100 in 1975 equals kr647.59 today. The average annual inflation rate between these periods has been 4.05%.

Inflation timeline in Norway (1975 - 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 1975-2021 503.64%
Cumulative inflation 1975-today 547.59%
Avg. Annual inflation 1975-2021 3.99%
CPI 1975 19.23
CPI 2021 116.09
CPI 2022-08 (latest official data) 123.9
CPI today 124.54

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 1975 and 2021, use the corresponding CPI values:

Value2021
=Value1975 ×
CPI2021/CPI1975
=kr 100 ×
116.09/19.23
kr603.64

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.54:

Valuetoday
=Value1975 ×
CPItoday/CPI1975
=kr 100 ×
124.54/19.23
kr647.59

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 46 years between 1975 and 2021 and the average inflation rate was 3.9857%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.039857)46
kr603.64

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1975 kr6.04 kroner in 2021
kr5 kroner in 1975 kr30.18 kroner in 2021
kr10 kroner in 1975 kr60.36 kroner in 2021
kr50 kroner in 1975 kr301.82 kroner in 2021
kr100 kroner in 1975 kr603.64 kroner in 2021
kr500 kroner in 1975 kr3,018.22 kroner in 2021
kr1,000 kroner in 1975 kr6,036.44 kroner in 2021
kr5,000 kroner in 1975 kr30,182.19 kroner in 2021
kr10,000 kroner in 1975 kr60,364.39 kroner in 2021
kr50,000 kroner in 1975 kr301,821.93 kroner in 2021
kr100,000 kroner in 1975 kr603,643.86 kroner in 2021
kr500,000 kroner in 1975 kr3,018,219.28 kroner in 2021
kr1,000,000 kroner in 1975 kr6,036,438.57 kroner in 2021
Cumulative inflation From 1975 547.59%
Avg. annual inflation From 1975 4.05%
CPI 1975 19.23
CPI today 124.54

Value of Krone over time (by year)

Period Value
1975 100
1976 109.16
1977 119.1
1978 128.82
1979 134.63
1980 149.28
1981 169.64
1982 188.88
1983 204.87
1984 217.61
1985 230.04
1986 246.55
1987 268.05
1988 285.94
1989 298.94
1990 311.29
1991 321.99
1992 329.49
1993 337.03
1994 341.66
1995 350.07
1996 354.49
1997 363.59
1998 371.78
1999 380.58
2000 392.32
2001 404.1
2002 409.3
2003 419.49
2004 421.39
2005 427.85
2006 437.82
2007 440.94
2008 457.49
2009 467.54
2010 478.85
2011 485
2012 488.38
2013 498.74
2014 508.92
2015 519.97
2016 538.43
2017 548.53
2018 563.69
2019 575.91
2020 583.32
2021 603.64
2022-08 644.24
Today 647.59

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: