Value of 1977 Norwegian Kroner today

kr100 in 1977

kr511.8 in 2019

The inflation rate in Norway between 1977 and today has been 411.8%, which translates into a total increase of kr411.8. This means that 100 kroner in 1977 are equivalent to 511.8 kroner in 2019. In other words, the purchasing power of kr100 in 1977 equals kr511.8 today. The average annual inflation rate has been 3.87%.

Inflation timeline in Norway (1977-2019)

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 (1977-2019) 410.66%
Total Inflation* 411.8%
Annual inflation avg. (1977-2019) 3.96%
Annual inflation avg.* 3.87%
CPI 1977 21.5
CPI 2019 109.8
CPI today* 110.04
kr1 in 1977 kr5.11 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 42 years between 1977 and 2019 and the average inflation rate has been 3.8701%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)42 = kr510.66

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 1977 was 21.5 and the CPI today is 110.04. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/21.5
= kr510.66

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1977 kr5.12 kroner today
kr5 kroner in 1977 kr25.59 kroner today
kr10 kroner in 1977 kr51.18 kroner today
kr50 kroner in 1977 kr255.9 kroner today
kr100 kroner in 1977 kr511.8 kroner today
kr500 kroner in 1977 kr2,559.01 kroner today
kr1,000 kroner in 1977 kr5,118.02 kroner today
kr5,000 kroner in 1977 kr25,590.08 kroner today
kr10,000 kroner in 1977 kr51,180.17 kroner today
kr50,000 kroner in 1977 kr255,900.85 kroner today
kr100,000 kroner in 1977 kr511,801.7 kroner today
kr500,000 kroner in 1977 kr2,559,008.48 kroner today
kr1,000,000 kroner in 1977 kr5,118,016.97 kroner today

Value of Krone in time (by year)

Period Value
1977 100
1978 109.33
1979 118
1980 123.25
1981 139.99
1982 156.73
1983 175.34
1984 187.89
1985 199.06
1986 210.22
1987 228.82
1988 245.57
1989 259.52
1990 270.68
1991 282.31
1992 290.21
1993 296.72
1994 302.31
1995 307.89
1996 314.4
1997 319.98
1998 327.42
1999 335.33
2000 344.63
2001 354.86
2002 362.3
2003 372.07
2004 374.39
2005 378.58
2006 385.56
2007 393.93
2008 405.09
2009 413.93
2010 422.3
2011 433.92
2012 434.39
2013 440.44
2014 449.27
2015 458.57
2016 469.27
2017 485.55
2018 493.46
2019 510.66
Today 511.8