Value of 1981 Norwegian Kroner today

kr100 in 1981

kr365.53 in 2019

The inflation rate in Norway between 1981 and today has been 265.53%, which translates into a total increase of kr265.53. This means that 100 kroner in 1981 are equivalent to 365.53 kroner in 2019. In other words, the purchasing power of kr100 in 1981 equals kr365.53 today. The average annual inflation rate has been 3.38%.

Inflation timeline in Norway (1981-2019)

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 (1981-2019) 264.78%
Total Inflation* 265.53%
Annual inflation avg. (1981-2019) 3.46%
Annual inflation avg.* 3.38%
CPI 1981 30.1
CPI 2019 109.8
CPI today* 110.02
kr1 in 1981 kr3.65 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 38 years between 1981 and 2019 and the average inflation rate has been 3.3794%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.03)38 = kr364.78

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 1981 was 30.1 and the CPI today is 110.02. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/30.1
= kr364.78

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1981 kr3.66 kroner today
kr5 kroner in 1981 kr18.28 kroner today
kr10 kroner in 1981 kr36.55 kroner today
kr50 kroner in 1981 kr182.76 kroner today
kr100 kroner in 1981 kr365.53 kroner today
kr500 kroner in 1981 kr1,827.63 kroner today
kr1,000 kroner in 1981 kr3,655.26 kroner today
kr5,000 kroner in 1981 kr18,276.31 kroner today
kr10,000 kroner in 1981 kr36,552.61 kroner today
kr50,000 kroner in 1981 kr182,763.06 kroner today
kr100,000 kroner in 1981 kr365,526.11 kroner today
kr500,000 kroner in 1981 kr1,827,630.57 kroner today
kr1,000,000 kroner in 1981 kr3,655,261.13 kroner today

Value of Krone in time (by year)

Period Value
1981 100
1982 111.96
1983 125.25
1984 134.22
1985 142.19
1986 150.17
1987 163.46
1988 175.42
1989 185.38
1990 193.36
1991 201.66
1992 207.31
1993 211.96
1994 215.95
1995 219.93
1996 224.58
1997 228.57
1998 233.89
1999 239.53
2000 246.18
2001 253.49
2002 258.8
2003 265.78
2004 267.44
2005 270.43
2006 275.42
2007 281.4
2008 289.37
2009 295.68
2010 301.66
2011 309.97
2012 310.3
2013 314.62
2014 320.93
2015 327.57
2016 335.22
2017 346.84
2018 352.49
2019 364.78
Today 365.53