Value of 1983 Norwegian Kroner today

kr100 in 1983

kr291.84 in 2019

The inflation rate in Norway between 1983 and today has been 191.84%, which translates into a total increase of kr191.84. This means that 100 kroner in 1983 are equivalent to 291.84 kroner in 2019. In other words, the purchasing power of kr100 in 1983 equals kr291.84 today. The average annual inflation rate has been 2.94%.

Inflation timeline in Norway (1983-2019)

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 (1983-2019) 191.25%
Total Inflation* 191.84%
Annual inflation avg. (1983-2019) 3.01%
Annual inflation avg.* 2.94%
CPI 1983 37.7
CPI 2019 109.8
CPI today* 110.02
kr1 in 1983 kr2.91 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 36 years between 1983 and 2019 and the average inflation rate has been 2.937%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.03)36 = kr291.25

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 1983 was 37.7 and the CPI today is 110.02. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/37.7
= kr291.25

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1983 kr2.92 kroner today
kr5 kroner in 1983 kr14.59 kroner today
kr10 kroner in 1983 kr29.18 kroner today
kr50 kroner in 1983 kr145.92 kroner today
kr100 kroner in 1983 kr291.84 kroner today
kr500 kroner in 1983 kr1,459.2 kroner today
kr1,000 kroner in 1983 kr2,918.39 kroner today
kr5,000 kroner in 1983 kr14,591.96 kroner today
kr10,000 kroner in 1983 kr29,183.92 kroner today
kr50,000 kroner in 1983 kr145,919.58 kroner today
kr100,000 kroner in 1983 kr291,839.15 kroner today
kr500,000 kroner in 1983 kr1,459,195.76 kroner today
kr1,000,000 kroner in 1983 kr2,918,391.51 kroner today

Value of Krone in time (by year)

Period Value
1983 100
1984 107.16
1985 113.53
1986 119.89
1987 130.5
1988 140.05
1989 148.01
1990 154.38
1991 161.01
1992 165.52
1993 169.23
1994 172.41
1995 175.6
1996 179.31
1997 182.49
1998 186.74
1999 191.25
2000 196.55
2001 202.39
2002 206.63
2003 212.2
2004 213.53
2005 215.92
2006 219.89
2007 224.67
2008 231.03
2009 236.07
2010 240.85
2011 247.48
2012 247.75
2013 251.19
2014 256.23
2015 261.54
2016 267.64
2017 276.92
2018 281.43
2019 291.25
Today 291.84