kr

Value of 1977 Norwegian Kroner today

kr100 in 1977
kr543.93 in 2022

The inflation rate in Norway between 1977 and today has been 443.93%, which translates into a total increase of kr443.93. This means that 100 kroner in 1977 are equivalent to 543.93 kroner in 2022. In other words, the purchasing power of kr100 in 1977 equals kr543.93 today. The average annual inflation rate between these periods has been 3.84%.

Inflation timeline in Norway (1977 - 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 1977-2021 406.84%
Cumulative inflation 1977-today 443.93%
Avg. Annual inflation 1977-2021 3.76%
CPI 1977 22.9
CPI 2021 116.09
CPI 2022-08 (latest official data) 123.9
CPI today 124.59

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 1977 and 2021, use the corresponding CPI values:

Value2021
=Value1977 ×
CPI2021/CPI1977
=kr 100 ×
116.09/22.9
kr506.84

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.59:

Valuetoday
=Value1977 ×
CPItoday/CPI1977
=kr 100 ×
124.59/22.9
kr543.93

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 44 years between 1977 and 2021 and the average inflation rate was 3.7576%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.037576)44
kr506.84

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1977 kr5.07 kroner in 2021
kr5 kroner in 1977 kr25.34 kroner in 2021
kr10 kroner in 1977 kr50.68 kroner in 2021
kr50 kroner in 1977 kr253.42 kroner in 2021
kr100 kroner in 1977 kr506.84 kroner in 2021
kr500 kroner in 1977 kr2,534.2 kroner in 2021
kr1,000 kroner in 1977 kr5,068.4 kroner in 2021
kr5,000 kroner in 1977 kr25,342.02 kroner in 2021
kr10,000 kroner in 1977 kr50,684.04 kroner in 2021
kr50,000 kroner in 1977 kr253,420.22 kroner in 2021
kr100,000 kroner in 1977 kr506,840.43 kroner in 2021
kr500,000 kroner in 1977 kr2,534,202.17 kroner in 2021
kr1,000,000 kroner in 1977 kr5,068,404.34 kroner in 2021
Cumulative inflation From 1977 443.93%
Avg. annual inflation From 1977 3.84%
CPI 1977 22.9
CPI today 124.59

Value of Krone over time (by year)

Period Value
1977 100
1978 108.16
1979 113.04
1980 125.34
1981 142.44
1982 158.59
1983 172.01
1984 182.71
1985 193.15
1986 207.01
1987 225.06
1988 240.09
1989 251
1990 261.37
1991 270.36
1992 276.65
1993 282.98
1994 286.87
1995 293.93
1996 297.64
1997 305.28
1998 312.16
1999 319.54
2000 329.4
2001 339.3
2002 343.67
2003 352.22
2004 353.82
2005 359.24
2006 367.61
2007 370.23
2008 384.12
2009 392.56
2010 402.06
2011 407.23
2012 410.06
2013 418.76
2014 427.31
2015 436.59
2016 452.09
2017 460.56
2018 473.3
2019 483.56
2020 489.78
2021 506.84
2022-08 540.93
Today 543.93

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: