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Value of 1980 Norwegian Kroner today

kr100 in 1980
kr440.88 in 2022

The inflation rate in Norway between 1980 and today has been 340.88%, which translates into a total increase of kr340.88. This means that 100 kroner in 1980 are equivalent to 440.88 kroner in 2022. In other words, the purchasing power of kr100 in 1980 equals kr440.88 today. The average annual inflation rate between these periods has been 3.6%.

Inflation timeline in Norway (1980 - 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 1980-2021 304.38%
Cumulative inflation 1980-today 340.88%
Avg. Annual inflation 1980-2021 3.47%
CPI 1980 28.71
CPI 2021 116.09
CPI 2022-10 (latest official data) 126
CPI today 126.57

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 1980 and 2021, use the corresponding CPI values:

Value2021
=Value1980 ×
CPI2021/CPI1980
=kr 100 ×
116.09/28.71
kr404.38

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.57:

Valuetoday
=Value1980 ×
CPItoday/CPI1980
=kr 100 ×
126.57/28.71
kr440.88

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 41 years between 1980 and 2021 and the average inflation rate was 3.4665%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.034665)41
kr404.38

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1980 kr4.04 kroner in 2021
kr5 kroner in 1980 kr20.22 kroner in 2021
kr10 kroner in 1980 kr40.44 kroner in 2021
kr50 kroner in 1980 kr202.19 kroner in 2021
kr100 kroner in 1980 kr404.38 kroner in 2021
kr500 kroner in 1980 kr2,021.92 kroner in 2021
kr1,000 kroner in 1980 kr4,043.83 kroner in 2021
kr5,000 kroner in 1980 kr20,219.17 kroner in 2021
kr10,000 kroner in 1980 kr40,438.33 kroner in 2021
kr50,000 kroner in 1980 kr202,191.66 kroner in 2021
kr100,000 kroner in 1980 kr404,383.33 kroner in 2021
kr500,000 kroner in 1980 kr2,021,916.64 kroner in 2021
kr1,000,000 kroner in 1980 kr4,043,833.27 kroner in 2021
Cumulative inflation From 1980 340.88%
Avg. annual inflation From 1980 3.6%
CPI 1980 28.71
CPI today 126.57

Value of Krone over time (by year)

Period Value
1980 100
1981 113.64
1982 126.53
1983 137.24
1984 145.78
1985 154.11
1986 165.17
1987 179.56
1988 191.55
1989 200.26
1990 208.53
1991 215.7
1992 220.73
1993 225.78
1994 228.88
1995 234.51
1996 237.47
1997 243.57
1998 249.06
1999 254.95
2000 262.82
2001 270.71
2002 274.19
2003 281.02
2004 282.29
2005 286.62
2006 293.29
2007 295.38
2008 306.47
2009 313.21
2010 320.78
2011 324.91
2012 327.17
2013 334.11
2014 340.93
2015 348.33
2016 360.7
2017 367.46
2018 377.62
2019 385.81
2020 390.77
2021 404.38
2022-10 438.9
Today 440.88

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: