Value of 1988 Norwegian Kroner today

kr100 in 1988

kr208.26 in 2019

The inflation rate in Norway between 1988 and today has been 108.26%, which translates into a total increase of kr108.26. This means that 100 kroner in 1988 are equivalent to 208.26 kroner in 2019. In other words, the purchasing power of kr100 in 1988 equals kr208.26 today. The average annual inflation rate has been 2.32%.

Inflation timeline in Norway (1988-2019)

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 (1988-2019) 107.95%
Total Inflation* 108.26%
Annual inflation avg. (1988-2019) 2.39%
Annual inflation avg.* 2.32%
CPI 1988 52.8
CPI 2019 109.8
CPI today* 109.96
kr1 in 1988 kr2.08 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 31 years between 1988 and 2019 and the average inflation rate has been 2.319%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)31 = kr207.95

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 1988 was 52.8 and the CPI today is 109.96. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/52.8
= kr207.95

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1988 kr2.08 kroner today
kr5 kroner in 1988 kr10.41 kroner today
kr10 kroner in 1988 kr20.83 kroner today
kr50 kroner in 1988 kr104.13 kroner today
kr100 kroner in 1988 kr208.26 kroner today
kr500 kroner in 1988 kr1,041.28 kroner today
kr1,000 kroner in 1988 kr2,082.57 kroner today
kr5,000 kroner in 1988 kr10,412.84 kroner today
kr10,000 kroner in 1988 kr20,825.67 kroner today
kr50,000 kroner in 1988 kr104,128.36 kroner today
kr100,000 kroner in 1988 kr208,256.71 kroner today
kr500,000 kroner in 1988 kr1,041,283.55 kroner today
kr1,000,000 kroner in 1988 kr2,082,567.1 kroner today

Value of Krone in time (by year)

Period Value
1988 100
1989 105.68
1990 110.23
1991 114.96
1992 118.18
1993 120.83
1994 123.11
1995 125.38
1996 128.03
1997 130.3
1998 133.33
1999 136.55
2000 140.34
2001 144.51
2002 147.54
2003 151.52
2004 152.46
2005 154.17
2006 157.01
2007 160.42
2008 164.96
2009 168.56
2010 171.97
2011 176.7
2012 176.89
2013 179.36
2014 182.95
2015 186.74
2016 191.1
2017 197.73
2018 200.95
2019 207.95
Today 208.26