kr

Value of 1985 Norwegian Kroner today

kr100 in 1985
kr302.9 in 2024

The inflation rate in Norway between 1985 and today has been 202.9%, which translates into a total increase of kr202.9. This means that 100 kroner in 1985 are equivalent to 302.9 kroner in 2024. In other words, the purchasing power of kr100 in 1985 equals kr302.9 today. The average annual inflation rate between these periods has been 2.88%.

Inflation timeline in Norway (1985 - 2024)

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 1985-2023 192.84%
Cumulative inflation 1985-today 202.9%
Avg. Annual inflation 1985-2023 2.87%
CPI 1985 44.24
CPI 2023 129.56
CPI 2024-04 (latest official data) 133.7
CPI today 134.01

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 1985 and 2023, use the corresponding CPI values:

Value2023
=Value1985 ×
CPI2023/CPI1985
=kr 100 ×
129.56/44.24
kr292.84

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134.01:

Valuetoday
=Value1985 ×
CPItoday/CPI1985
=kr 100 ×
134.01/44.24
kr302.9

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 1985 and 2023 and the average inflation rate was 2.8679%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.028679)38
kr292.84

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1985 kr2.93 kroner in 2023
kr5 kroner in 1985 kr14.64 kroner in 2023
kr10 kroner in 1985 kr29.28 kroner in 2023
kr50 kroner in 1985 kr146.42 kroner in 2023
kr100 kroner in 1985 kr292.84 kroner in 2023
kr500 kroner in 1985 kr1,464.21 kroner in 2023
kr1,000 kroner in 1985 kr2,928.42 kroner in 2023
kr5,000 kroner in 1985 kr14,642.12 kroner in 2023
kr10,000 kroner in 1985 kr29,284.23 kroner in 2023
kr50,000 kroner in 1985 kr146,421.16 kroner in 2023
kr100,000 kroner in 1985 kr292,842.31 kroner in 2023
kr500,000 kroner in 1985 kr1,464,211.56 kroner in 2023
kr1,000,000 kroner in 1985 kr2,928,423.12 kroner in 2023
Cumulative inflation From 1985 202.9%
Avg. annual inflation From 1985 2.88%
CPI 1985 44.24
CPI today 134.01

Value of Krone over time (by year)

Period Value
1985 100
1986 107.18
1987 116.52
1988 124.3
1989 129.95
1990 135.32
1991 139.97
1992 143.23
1993 146.51
1994 148.52
1995 152.18
1996 154.1
1997 158.05
1998 161.61
1999 165.44
2000 170.54
2001 175.66
2002 177.92
2003 182.35
2004 183.18
2005 185.99
2006 190.32
2007 191.67
2008 198.87
2009 203.24
2010 208.16
2011 210.83
2012 212.3
2013 216.8
2014 221.23
2015 226.03
2016 234.06
2017 238.44
2018 245.04
2019 250.35
2020 253.57
2021 262.4
2022 277.53
2023 292.84
2024-04 302.2
Today 302.9

All available years

Today's value of norwegian kroner by year:

1955 | 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 | 2022 | 2023 |

Other currencies: