kr

Value of 1978 Norwegian Kroner today

kr100 in 1978
kr530.94 in 2023

The inflation rate in Norway between 1978 and today has been 430.94%, which translates into a total increase of kr430.94. This means that 100 kroner in 1978 are equivalent to 530.94 kroner in 2023. In other words, the purchasing power of kr100 in 1978 equals kr530.94 today. The average annual inflation rate between these periods has been 3.78%.

Inflation timeline in Norway (1978 - 2023)

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 1978-2022 395.61%
Cumulative inflation 1978-today 430.94%
Avg. Annual inflation 1978-2022 3.7%
CPI 1978 24.77
CPI 2022 122.78
CPI 2023-10 (latest official data) 131.1
CPI today 131.54

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 1978 and 2022, use the corresponding CPI values:

Value2022
=Value1978 ×
CPI2022/CPI1978
=kr 100 ×
122.78/24.77
kr495.61

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.54:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=kr 100 ×
131.54/24.77
kr530.94

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 1978 and 2022 and the average inflation rate was 3.7047%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=kr100 × (1 + 0.037047)44
kr495.61

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1978 kr4.96 kroner in 2022
kr5 kroner in 1978 kr24.78 kroner in 2022
kr10 kroner in 1978 kr49.56 kroner in 2022
kr50 kroner in 1978 kr247.8 kroner in 2022
kr100 kroner in 1978 kr495.61 kroner in 2022
kr500 kroner in 1978 kr2,478.03 kroner in 2022
kr1,000 kroner in 1978 kr4,956.05 kroner in 2022
kr5,000 kroner in 1978 kr24,780.27 kroner in 2022
kr10,000 kroner in 1978 kr49,560.53 kroner in 2022
kr50,000 kroner in 1978 kr247,802.67 kroner in 2022
kr100,000 kroner in 1978 kr495,605.34 kroner in 2022
kr500,000 kroner in 1978 kr2,478,026.72 kroner in 2022
kr1,000,000 kroner in 1978 kr4,956,053.44 kroner in 2022
Cumulative inflation From 1978 430.94%
Avg. annual inflation From 1978 3.78%
CPI 1978 24.77
CPI today 131.54

Value of Krone over time (by year)

Period Value
1978 100
1979 104.51
1980 115.88
1981 131.69
1982 146.62
1983 159.04
1984 168.92
1985 178.58
1986 191.39
1987 208.08
1988 221.97
1989 232.06
1990 241.65
1991 249.96
1992 255.77
1993 261.63
1994 265.23
1995 271.75
1996 275.18
1997 282.25
1998 288.6
1999 295.43
2000 304.55
2001 313.7
2002 317.73
2003 325.64
2004 327.12
2005 332.13
2006 339.87
2007 342.29
2008 355.14
2009 362.94
2010 371.72
2011 376.5
2012 379.12
2013 387.16
2014 395.06
2015 403.64
2016 417.97
2017 425.81
2018 437.58
2019 447.07
2020 452.82
2021 468.6
2022 495.61
2023-10 529.18
Today 530.94

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 | 2022 |

Other currencies: