Value of 1978 Norwegian Kroner today

kr100 in 1978

kr468.02 in 2019

The inflation rate in Norway between 1978 and today has been 368.02%, which translates into a total increase of kr368.02. This means that 100 kroner in 1978 are equivalent to 468.02 kroner in 2019. In other words, the purchasing power of kr100 in 1978 equals kr468.02 today. The average annual inflation rate has been 3.74%.

Inflation timeline in Norway (1978-2019)

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 (1978-2019) 367.07%
Total Inflation* 368.02%
Annual inflation avg. (1978-2019) 3.83%
Annual inflation avg.* 3.74%
CPI 1978 23.51
CPI 2019 109.8
CPI today* 110.02
kr1 in 1978 kr4.67 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 41 years between 1978 and 2019 and the average inflation rate has been 3.743%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)41 = kr467.07

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 1978 was 23.51 and the CPI today is 110.02. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/23.51
= kr467.07

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1978 kr4.68 kroner today
kr5 kroner in 1978 kr23.4 kroner today
kr10 kroner in 1978 kr46.8 kroner today
kr50 kroner in 1978 kr234.01 kroner today
kr100 kroner in 1978 kr468.02 kroner today
kr500 kroner in 1978 kr2,340.11 kroner today
kr1,000 kroner in 1978 kr4,680.21 kroner today
kr5,000 kroner in 1978 kr23,401.05 kroner today
kr10,000 kroner in 1978 kr46,802.1 kroner today
kr50,000 kroner in 1978 kr234,010.5 kroner today
kr100,000 kroner in 1978 kr468,021 kroner today
kr500,000 kroner in 1978 kr2,340,105.01 kroner today
kr1,000,000 kroner in 1978 kr4,680,210.02 kroner today

Value of Krone in time (by year)

Period Value
1978 100
1979 107.93
1980 112.73
1981 128.04
1982 143.35
1983 160.37
1984 171.85
1985 182.06
1986 192.27
1987 209.29
1988 224.6
1989 237.36
1990 247.57
1991 258.21
1992 265.44
1993 271.39
1994 276.5
1995 281.6
1996 287.56
1997 292.66
1998 299.47
1999 306.7
2000 315.21
2001 324.57
2002 331.37
2003 340.31
2004 342.43
2005 346.26
2006 352.64
2007 360.3
2008 370.51
2009 378.59
2010 386.25
2011 396.88
2012 397.31
2013 402.84
2014 410.92
2015 419.43
2016 429.21
2017 444.1
2018 451.33
2019 467.07
Today 468.02