kr

Value of 1976 Norwegian Kroner today

kr100 in 1976
kr579.45 in 2022

The inflation rate in Norway between 1976 and today has been 479.45%, which translates into a total increase of kr479.45. This means that 100 kroner in 1976 are equivalent to 579.45 kroner in 2022. In other words, the purchasing power of kr100 in 1976 equals kr579.45 today. The average annual inflation rate between these periods has been 3.89%.

Inflation timeline in Norway (1976 - 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 1976-2021 452.98%
Cumulative inflation 1976-today 479.45%
Avg. Annual inflation 1976-2021 3.87%
CPI 1976 20.99
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 1976 and 2021, use the corresponding CPI values:

Value2021
=Value1976 ×
CPI2021/CPI1976
=kr 100 ×
116.09/20.99
kr552.98

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

Valuetoday
=Value1976 ×
CPItoday/CPI1976
=kr 100 ×
121.65/20.99
kr579.45

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 45 years between 1976 and 2021 and the average inflation rate was 3.8735%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.038735)45
kr552.98

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1976 kr5.53 kroner in 2021
kr5 kroner in 1976 kr27.65 kroner in 2021
kr10 kroner in 1976 kr55.3 kroner in 2021
kr50 kroner in 1976 kr276.49 kroner in 2021
kr100 kroner in 1976 kr552.98 kroner in 2021
kr500 kroner in 1976 kr2,764.91 kroner in 2021
kr1,000 kroner in 1976 kr5,529.82 kroner in 2021
kr5,000 kroner in 1976 kr27,649.12 kroner in 2021
kr10,000 kroner in 1976 kr55,298.25 kroner in 2021
kr50,000 kroner in 1976 kr276,491.23 kroner in 2021
kr100,000 kroner in 1976 kr552,982.46 kroner in 2021
kr500,000 kroner in 1976 kr2,764,912.3 kroner in 2021
kr1,000,000 kroner in 1976 kr5,529,824.6 kroner in 2021
Cumulative inflation From 1976 479.45%
Avg. annual inflation From 1976 3.89%
CPI 1976 20.99
CPI today 121.65

Value of Krone over time (by year)

Period Value
1976 100
1977 109.1
1978 118.01
1979 123.33
1980 136.75
1981 155.4
1982 173.03
1983 187.67
1984 199.35
1985 210.74
1986 225.86
1987 245.55
1988 261.94
1989 273.85
1990 285.16
1991 294.97
1992 301.84
1993 308.74
1994 312.99
1995 320.69
1996 324.74
1997 333.08
1998 340.58
1999 348.64
2000 359.39
2001 370.19
2002 374.95
2003 384.28
2004 386.03
2005 391.94
2006 401.07
2007 403.93
2008 419.09
2009 428.3
2010 438.66
2011 444.3
2012 447.4
2013 456.88
2014 466.21
2015 476.33
2016 493.24
2017 502.49
2018 516.38
2019 527.58
2020 534.37
2021 552.98
2022-04 577.31
Today 579.45

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: