kr

Value of 1979 Norwegian Kroner today

kr100 in 1979
kr469.76 in 2022

The inflation rate in Norway between 1979 and today has been 369.76%, which translates into a total increase of kr369.76. This means that 100 kroner in 1979 are equivalent to 469.76 kroner in 2022. In other words, the purchasing power of kr100 in 1979 equals kr469.76 today. The average annual inflation rate between these periods has been 3.66%.

Inflation timeline in Norway (1979 - 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 1979-2021 348.37%
Cumulative inflation 1979-today 369.76%
Avg. Annual inflation 1979-2021 3.64%
CPI 1979 25.89
CPI 2021 116.09
CPI 2022-04 (latest official data) 121.2
CPI today 121.63

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 1979 and 2021, use the corresponding CPI values:

Value2021
=Value1979 ×
CPI2021/CPI1979
=kr 100 ×
116.09/25.89
kr448.37

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.63:

Valuetoday
=Value1979 ×
CPItoday/CPI1979
=kr 100 ×
121.63/25.89
kr469.76

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 42 years between 1979 and 2021 and the average inflation rate was 3.6371%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.036371)42
kr448.37

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1979 kr4.48 kroner in 2021
kr5 kroner in 1979 kr22.42 kroner in 2021
kr10 kroner in 1979 kr44.84 kroner in 2021
kr50 kroner in 1979 kr224.19 kroner in 2021
kr100 kroner in 1979 kr448.37 kroner in 2021
kr500 kroner in 1979 kr2,241.87 kroner in 2021
kr1,000 kroner in 1979 kr4,483.75 kroner in 2021
kr5,000 kroner in 1979 kr22,418.74 kroner in 2021
kr10,000 kroner in 1979 kr44,837.47 kroner in 2021
kr50,000 kroner in 1979 kr224,187.35 kroner in 2021
kr100,000 kroner in 1979 kr448,374.71 kroner in 2021
kr500,000 kroner in 1979 kr2,241,873.54 kroner in 2021
kr1,000,000 kroner in 1979 kr4,483,747.09 kroner in 2021
Cumulative inflation From 1979 369.76%
Avg. annual inflation From 1979 3.66%
CPI 1979 25.89
CPI today 121.63

Value of Krone over time (by year)

Period Value
1979 100
1980 110.88
1981 126.01
1982 140.3
1983 152.17
1984 161.63
1985 170.87
1986 183.13
1987 199.1
1988 212.39
1989 222.05
1990 231.22
1991 239.17
1992 244.74
1993 250.34
1994 253.78
1995 260.03
1996 263.31
1997 270.07
1998 276.15
1999 282.68
2000 291.41
2001 300.16
2002 304.02
2003 311.59
2004 313
2005 317.8
2006 325.2
2007 327.52
2008 339.81
2009 347.28
2010 355.68
2011 360.25
2012 362.76
2013 370.45
2014 378.02
2015 386.22
2016 399.94
2017 407.43
2018 418.7
2019 427.78
2020 433.28
2021 448.37
2022-04 468.1
Today 469.76

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: