kr

Value of 1981 Norwegian Kroner today

kr100 in 1981
kr374.47 in 2022

The inflation rate in Norway between 1981 and today has been 274.47%, which translates into a total increase of kr274.47. This means that 100 kroner in 1981 are equivalent to 374.47 kroner in 2022. In other words, the purchasing power of kr100 in 1981 equals kr374.47 today. The average annual inflation rate between these periods has been 3.27%.

Inflation timeline in Norway (1981 - 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 1981-2021 255.84%
Cumulative inflation 1981-today 274.47%
Avg. Annual inflation 1981-2021 3.22%
CPI 1981 32.63
CPI 2021 116.09
CPI 2022-05 (latest official data) 121.5
CPI today 122.17

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 1981 and 2021, use the corresponding CPI values:

Value2021
=Value1981 ×
CPI2021/CPI1981
=kr 100 ×
116.09/32.63
kr355.84

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.17:

Valuetoday
=Value1981 ×
CPItoday/CPI1981
=kr 100 ×
122.17/32.63
kr374.47

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 40 years between 1981 and 2021 and the average inflation rate was 3.2241%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.032241)40
kr355.84

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1981 kr3.56 kroner in 2021
kr5 kroner in 1981 kr17.79 kroner in 2021
kr10 kroner in 1981 kr35.58 kroner in 2021
kr50 kroner in 1981 kr177.92 kroner in 2021
kr100 kroner in 1981 kr355.84 kroner in 2021
kr500 kroner in 1981 kr1,779.18 kroner in 2021
kr1,000 kroner in 1981 kr3,558.37 kroner in 2021
kr5,000 kroner in 1981 kr17,791.83 kroner in 2021
kr10,000 kroner in 1981 kr35,583.66 kroner in 2021
kr50,000 kroner in 1981 kr177,918.31 kroner in 2021
kr100,000 kroner in 1981 kr355,836.63 kroner in 2021
kr500,000 kroner in 1981 kr1,779,183.14 kroner in 2021
kr1,000,000 kroner in 1981 kr3,558,366.28 kroner in 2021
Cumulative inflation From 1981 274.47%
Avg. annual inflation From 1981 3.27%
CPI 1981 32.63
CPI today 122.17

Value of Krone over time (by year)

Period Value
1981 100
1982 111.34
1983 120.77
1984 128.28
1985 135.61
1986 145.34
1987 158.01
1988 168.56
1989 176.22
1990 183.5
1991 189.81
1992 194.23
1993 198.67
1994 201.4
1995 206.36
1996 208.97
1997 214.33
1998 219.16
1999 224.34
2000 231.26
2001 238.21
2002 241.28
2003 247.28
2004 248.4
2005 252.21
2006 258.08
2007 259.92
2008 269.68
2009 275.61
2010 282.27
2011 285.9
2012 287.89
2013 294
2014 300
2015 306.51
2016 317.39
2017 323.35
2018 332.29
2019 339.49
2020 343.86
2021 355.84
2022-05 372.41
Today 374.47

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: