Value of 1984 Norwegian Kroner today

kr100 in 1984

kr271.79 today

The inflation rate in Norway between 1984 and today has been 171.79%, which translates into a total increase of kr171.79. This means that 100 kroner in 1984 are equivalent to 271.79 kroner in 2018. In other words, the purchasing power of kr100 in 1984 equals kr271.79 today. The average annual inflation rate has been 2.9%.

Inflation timeline in Norway (1984-2019)

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 (1984-2018) 162.62%
Total Inflation* 171.79%
Annual inflation avg. (1984-2018) 2.88%
Annual inflation avg.* 2.9%
CPI 1984 40.4
CPI 2018 106.1
CPI today* 109.8
kr1 in 1984 kr2.63 in 2018

* 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 34 years between 1984 and 2018 and the average inflation rate has been 2.8979%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.03)34 = kr262.62

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 1984 was 40.4 and the CPI today is 109.8. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
106.1/40.4
= kr262.62

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1984 kr2.72 kroner today
kr5 kroner in 1984 kr13.59 kroner today
kr10 kroner in 1984 kr27.18 kroner today
kr50 kroner in 1984 kr135.89 kroner today
kr100 kroner in 1984 kr271.79 kroner today
kr500 kroner in 1984 kr1,358.93 kroner today
kr1,000 kroner in 1984 kr2,717.86 kroner today
kr5,000 kroner in 1984 kr13,589.31 kroner today
kr10,000 kroner in 1984 kr27,178.63 kroner today
kr50,000 kroner in 1984 kr135,893.13 kroner today
kr100,000 kroner in 1984 kr271,786.25 kroner today
kr500,000 kroner in 1984 kr1,358,931.27 kroner today
kr1,000,000 kroner in 1984 kr2,717,862.54 kroner today

Value of Krone in time (by year)

Period Value
1984 100
1985 105.94
1986 111.88
1987 121.78
1988 130.69
1989 138.12
1990 144.06
1991 150.25
1992 154.46
1993 157.92
1994 160.89
1995 163.86
1996 167.33
1997 170.3
1998 174.26
1999 178.47
2000 183.42
2001 188.86
2002 192.82
2003 198.02
2004 199.26
2005 201.49
2006 205.2
2007 209.65
2008 215.59
2009 220.3
2010 224.75
2011 230.94
2012 231.19
2013 234.41
2014 239.11
2015 244.06
2016 249.75
2017 258.42
2018 262.62
Today 271.79