Value of 1987 Norwegian Kroner today

kr100 in 1987

kr223.6 in 2019

The inflation rate in Norway between 1987 and today has been 123.6%, which translates into a total increase of kr123.6. This means that 100 kroner in 1987 are equivalent to 223.6 kroner in 2019. In other words, the purchasing power of kr100 in 1987 equals kr223.6 today. The average annual inflation rate has been 2.47%.

Inflation timeline in Norway (1987-2019)

The following chart depicts the equivalence of kr100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1987-2019) 123.17%
Total Inflation* 123.6%
Annual inflation avg. (1987-2019) 2.54%
Annual inflation avg.* 2.47%
CPI 1987 49.2
CPI 2019 109.8
CPI today* 110.01
kr1 in 1987 kr2.23 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 32 years between 1987 and 2019 and the average inflation rate has been 2.4685%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)32 = kr223.17

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 1987 was 49.2 and the CPI today is 110.01. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/49.2
= kr223.17

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1987 kr2.24 kroner today
kr5 kroner in 1987 kr11.18 kroner today
kr10 kroner in 1987 kr22.36 kroner today
kr50 kroner in 1987 kr111.8 kroner today
kr100 kroner in 1987 kr223.6 kroner today
kr500 kroner in 1987 kr1,118.02 kroner today
kr1,000 kroner in 1987 kr2,236.03 kroner today
kr5,000 kroner in 1987 kr11,180.15 kroner today
kr10,000 kroner in 1987 kr22,360.31 kroner today
kr50,000 kroner in 1987 kr111,801.55 kroner today
kr100,000 kroner in 1987 kr223,603.1 kroner today
kr500,000 kroner in 1987 kr1,118,015.49 kroner today
kr1,000,000 kroner in 1987 kr2,236,030.97 kroner today

Value of Krone in time (by year)

Period Value
1987 100
1988 107.32
1989 113.41
1990 118.29
1991 123.37
1992 126.83
1993 129.67
1994 132.11
1995 134.55
1996 137.4
1997 139.84
1998 143.09
1999 146.54
2000 150.61
2001 155.08
2002 158.33
2003 162.6
2004 163.62
2005 165.45
2006 168.5
2007 172.15
2008 177.03
2009 180.89
2010 184.55
2011 189.63
2012 189.84
2013 192.48
2014 196.34
2015 200.41
2016 205.08
2017 212.2
2018 215.65
2019 223.17
Today 223.6