Value of 1989 Norwegian Kroner today

kr100 in 1989

kr197.17 in 2019

The inflation rate in Norway between 1989 and today has been 97.17%, which translates into a total increase of kr97.17. This means that 100 kroner in 1989 are equivalent to 197.17 kroner in 2019. In other words, the purchasing power of kr100 in 1989 equals kr197.17 today. The average annual inflation rate has been 2.21%.

Inflation timeline in Norway (1989-2019)

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 (1989-2019) 96.77%
Total Inflation* 97.17%
Annual inflation avg. (1989-2019) 2.28%
Annual inflation avg.* 2.21%
CPI 1989 55.8
CPI 2019 109.8
CPI today* 110.02
kr1 in 1989 kr1.97 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 30 years between 1989 and 2019 and the average inflation rate has been 2.2142%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)30 = kr196.77

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 1989 was 55.8 and the CPI today is 110.02. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/55.8
= kr196.77

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1989 kr1.97 kroner today
kr5 kroner in 1989 kr9.86 kroner today
kr10 kroner in 1989 kr19.72 kroner today
kr50 kroner in 1989 kr98.59 kroner today
kr100 kroner in 1989 kr197.17 kroner today
kr500 kroner in 1989 kr985.87 kroner today
kr1,000 kroner in 1989 kr1,971.74 kroner today
kr5,000 kroner in 1989 kr9,858.72 kroner today
kr10,000 kroner in 1989 kr19,717.45 kroner today
kr50,000 kroner in 1989 kr98,587.24 kroner today
kr100,000 kroner in 1989 kr197,174.48 kroner today
kr500,000 kroner in 1989 kr985,872.4 kroner today
kr1,000,000 kroner in 1989 kr1,971,744.8 kroner today

Value of Krone in time (by year)

Period Value
1989 100
1990 104.3
1991 108.78
1992 111.83
1993 114.34
1994 116.49
1995 118.64
1996 121.15
1997 123.3
1998 126.16
1999 129.21
2000 132.8
2001 136.74
2002 139.61
2003 143.37
2004 144.27
2005 145.88
2006 148.57
2007 151.79
2008 156.09
2009 159.5
2010 162.72
2011 167.2
2012 167.38
2013 169.71
2014 173.12
2015 176.7
2016 180.82
2017 187.1
2018 190.14
2019 196.77
Today 197.17