Value of 1979 Norwegian Kroner today

kr100 in 1979

kr433.65 in 2019

The inflation rate in Norway between 1979 and today has been 333.65%, which translates into a total increase of kr333.65. This means that 100 kroner in 1979 are equivalent to 433.65 kroner in 2019. In other words, the purchasing power of kr100 in 1979 equals kr433.65 today. The average annual inflation rate has been 3.64%.

Inflation timeline in Norway (1979-2019)

The following chart depicts the equivalence of kr100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1979-2019) 332.77%
Total Inflation* 333.65%
Annual inflation avg. (1979-2019) 3.73%
Annual inflation avg.* 3.64%
CPI 1979 25.37
CPI 2019 109.8
CPI today* 110.02
kr1 in 1979 kr4.33 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 40 years between 1979 and 2019 and the average inflation rate has been 3.643%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)40 = kr432.77

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 1979 was 25.37 and the CPI today is 110.02. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/25.37
= kr432.77

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1979 kr4.34 kroner today
kr5 kroner in 1979 kr21.68 kroner today
kr10 kroner in 1979 kr43.36 kroner today
kr50 kroner in 1979 kr216.82 kroner today
kr100 kroner in 1979 kr433.65 kroner today
kr500 kroner in 1979 kr2,168.23 kroner today
kr1,000 kroner in 1979 kr4,336.47 kroner today
kr5,000 kroner in 1979 kr21,682.33 kroner today
kr10,000 kroner in 1979 kr43,364.65 kroner today
kr50,000 kroner in 1979 kr216,823.25 kroner today
kr100,000 kroner in 1979 kr433,646.5 kroner today
kr500,000 kroner in 1979 kr2,168,232.52 kroner today
kr1,000,000 kroner in 1979 kr4,336,465.04 kroner today

Value of Krone in time (by year)

Period Value
1979 100
1980 104.45
1981 118.64
1982 132.83
1983 148.59
1984 159.23
1985 168.69
1986 178.15
1987 193.92
1988 208.11
1989 219.93
1990 229.39
1991 239.24
1992 245.94
1993 251.46
1994 256.19
1995 260.92
1996 266.44
1997 271.17
1998 277.47
1999 284.18
2000 292.06
2001 300.73
2002 307.04
2003 315.31
2004 317.28
2005 320.83
2006 326.74
2007 333.84
2008 343.3
2009 350.78
2010 357.88
2011 367.73
2012 368.13
2013 373.25
2014 380.74
2015 388.62
2016 397.69
2017 411.48
2018 418.18
2019 432.77
Today 433.65