Value of 1976 Norwegian Kroner today

kr100 in 1976

kr552.2 in 2019

The inflation rate in Norway between 1976 and today has been 452.2%, which translates into a total increase of kr452.2. This means that 100 kroner in 1976 are equivalent to 552.2 kroner in 2019. In other words, the purchasing power of kr100 in 1976 equals kr552.2 today. The average annual inflation rate has been 3.96%.

Inflation timeline in Norway (1976-2019)

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 (1976-2019) 451.08%
Total Inflation* 452.2%
Annual inflation avg. (1976-2019) 4.05%
Annual inflation avg.* 3.96%
CPI 1976 19.92
CPI 2019 109.8
CPI today* 110.02
kr1 in 1976 kr5.51 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 43 years between 1976 and 2019 and the average inflation rate has been 3.9599%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)43 = kr551.08

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 1976 was 19.92 and the CPI today is 110.02. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/19.92
= kr551.08

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1976 kr5.52 kroner today
kr5 kroner in 1976 kr27.61 kroner today
kr10 kroner in 1976 kr55.22 kroner today
kr50 kroner in 1976 kr276.1 kroner today
kr100 kroner in 1976 kr552.2 kroner today
kr500 kroner in 1976 kr2,760.99 kroner today
kr1,000 kroner in 1976 kr5,521.97 kroner today
kr5,000 kroner in 1976 kr27,609.86 kroner today
kr10,000 kroner in 1976 kr55,219.72 kroner today
kr50,000 kroner in 1976 kr276,098.6 kroner today
kr100,000 kroner in 1976 kr552,197.2 kroner today
kr500,000 kroner in 1976 kr2,760,986.02 kroner today
kr1,000,000 kroner in 1976 kr5,521,972.03 kroner today

Value of Krone in time (by year)

Period Value
1976 100
1977 107.91
1978 117.99
1979 127.34
1980 133
1981 151.07
1982 169.14
1983 189.21
1984 202.76
1985 214.81
1986 226.85
1987 246.93
1988 265
1989 280.06
1990 292.1
1991 304.65
1992 313.18
1993 320.21
1994 326.23
1995 332.25
1996 339.28
1997 345.3
1998 353.33
1999 361.86
2000 371.9
2001 382.94
2002 390.97
2003 401.51
2004 404.02
2005 408.54
2006 416.07
2007 425.1
2008 437.15
2009 446.68
2010 455.72
2011 468.26
2012 468.77
2013 475.29
2014 484.83
2015 494.86
2016 506.41
2017 523.97
2018 532.51
2019 551.08
Today 552.2