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Value of 1983 Norwegian Kroner today

kr100 in 1983
kr315.37 in 2022

The inflation rate in Norway between 1983 and today has been 215.37%, which translates into a total increase of kr215.37. This means that 100 kroner in 1983 are equivalent to 315.37 kroner in 2022. In other words, the purchasing power of kr100 in 1983 equals kr315.37 today. The average annual inflation rate between these periods has been 2.99%.

Inflation timeline in Norway (1983 - 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 1983-2021 194.65%
Cumulative inflation 1983-today 215.37%
Avg. Annual inflation 1983-2021 2.88%
CPI 1983 39.4
CPI 2021 116.09
CPI 2022-08 (latest official data) 123.9
CPI today 124.25

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 1983 and 2021, use the corresponding CPI values:

Value2021
=Value1983 ×
CPI2021/CPI1983
=kr 100 ×
116.09/39.4
kr294.65

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.25:

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=kr 100 ×
124.25/39.4
kr315.37

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 38 years between 1983 and 2021 and the average inflation rate was 2.8845%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.028845)38
kr294.65

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1983 kr2.95 kroner in 2021
kr5 kroner in 1983 kr14.73 kroner in 2021
kr10 kroner in 1983 kr29.46 kroner in 2021
kr50 kroner in 1983 kr147.32 kroner in 2021
kr100 kroner in 1983 kr294.65 kroner in 2021
kr500 kroner in 1983 kr1,473.24 kroner in 2021
kr1,000 kroner in 1983 kr2,946.49 kroner in 2021
kr5,000 kroner in 1983 kr14,732.45 kroner in 2021
kr10,000 kroner in 1983 kr29,464.9 kroner in 2021
kr50,000 kroner in 1983 kr147,324.49 kroner in 2021
kr100,000 kroner in 1983 kr294,648.98 kroner in 2021
kr500,000 kroner in 1983 kr1,473,244.92 kroner in 2021
kr1,000,000 kroner in 1983 kr2,946,489.85 kroner in 2021
Cumulative inflation From 1983 215.37%
Avg. annual inflation From 1983 2.99%
CPI 1983 39.4
CPI today 124.25

Value of Krone over time (by year)

Period Value
1983 100
1984 106.22
1985 112.29
1986 120.35
1987 130.84
1988 139.57
1989 145.92
1990 151.95
1991 157.17
1992 160.83
1993 164.51
1994 166.77
1995 170.88
1996 173.03
1997 177.47
1998 181.47
1999 185.77
2000 191.5
2001 197.25
2002 199.79
2003 204.76
2004 205.69
2005 208.84
2006 213.71
2007 215.23
2008 223.31
2009 228.21
2010 233.74
2011 236.74
2012 238.39
2013 243.44
2014 248.41
2015 253.81
2016 262.82
2017 267.75
2018 275.15
2019 281.11
2020 284.73
2021 294.65
2022-08 314.47
Today 315.37

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: