Value of 1980 Norwegian Kroner today

kr100 in 1980

kr414.35 today

The inflation rate in Norway between 1980 and today has been 314.35%, which translates into a total increase of kr314.35. This means that 100 kroner in 1980 are equivalent to 414.35 kroner in 2018. In other words, the purchasing power of kr100 in 1980 equals kr414.35 today. The average annual inflation rate has been 3.71%.

Inflation timeline in Norway (1980-2019)

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 (1980-2018) 300.38%
Total Inflation* 314.35%
Annual inflation avg. (1980-2018) 3.72%
Annual inflation avg.* 3.71%
CPI 1980 26.5
CPI 2018 106.1
CPI today* 109.8
kr1 in 1980 kr4 in 2018

* 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 38 years between 1980 and 2018 and the average inflation rate has been 3.7122%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.04)38 = kr400.38

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 1980 was 26.5 and the CPI today is 109.8. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
106.1/26.5
= kr400.38

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1980 kr4.14 kroner today
kr5 kroner in 1980 kr20.72 kroner today
kr10 kroner in 1980 kr41.43 kroner today
kr50 kroner in 1980 kr207.17 kroner today
kr100 kroner in 1980 kr414.35 kroner today
kr500 kroner in 1980 kr2,071.73 kroner today
kr1,000 kroner in 1980 kr4,143.46 kroner today
kr5,000 kroner in 1980 kr20,717.29 kroner today
kr10,000 kroner in 1980 kr41,434.58 kroner today
kr50,000 kroner in 1980 kr207,172.92 kroner today
kr100,000 kroner in 1980 kr414,345.84 kroner today
kr500,000 kroner in 1980 kr2,071,729.18 kroner today
kr1,000,000 kroner in 1980 kr4,143,458.37 kroner today

Value of Krone in time (by year)

Period Value
1980 100
1981 113.58
1982 127.17
1983 142.26
1984 152.45
1985 161.51
1986 170.57
1987 185.66
1988 199.25
1989 210.57
1990 219.62
1991 229.06
1992 235.47
1993 240.75
1994 245.28
1995 249.81
1996 255.09
1997 259.62
1998 265.66
1999 272.08
2000 279.62
2001 287.92
2002 293.96
2003 301.89
2004 303.77
2005 307.17
2006 312.83
2007 319.62
2008 328.68
2009 335.85
2010 342.64
2011 352.08
2012 352.45
2013 357.36
2014 364.53
2015 372.08
2016 380.75
2017 393.96
2018 400.38
Today 414.35