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Value of 1989 Norwegian Kroner today

kr100 in 1989
kr216.74 in 2022

The inflation rate in Norway between 1989 and today has been 116.74%, which translates into a total increase of kr116.74. This means that 100 kroner in 1989 are equivalent to 216.74 kroner in 2022. In other words, the purchasing power of kr100 in 1989 equals kr216.74 today. The average annual inflation rate between these periods has been 2.37%.

Inflation timeline in Norway (1989 - 2022)

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 1989-2021 101.93%
Cumulative inflation 1989-today 116.74%
Avg. Annual inflation 1989-2021 2.22%
CPI 1989 57.49
CPI 2021 116.09
CPI 2022-08 (latest official data) 123.9
CPI today 124.61

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 1989 and 2021, use the corresponding CPI values:

Value2021
=Value1989 ×
CPI2021/CPI1989
=kr 100 ×
116.09/57.49
kr201.93

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.61:

Valuetoday
=Value1989 ×
CPItoday/CPI1989
=kr 100 ×
124.61/57.49
kr216.74

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 32 years between 1989 and 2021 and the average inflation rate was 2.2204%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.022204)32
kr201.93

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1989 kr2.02 kroner in 2021
kr5 kroner in 1989 kr10.1 kroner in 2021
kr10 kroner in 1989 kr20.19 kroner in 2021
kr50 kroner in 1989 kr100.96 kroner in 2021
kr100 kroner in 1989 kr201.93 kroner in 2021
kr500 kroner in 1989 kr1,009.64 kroner in 2021
kr1,000 kroner in 1989 kr2,019.28 kroner in 2021
kr5,000 kroner in 1989 kr10,096.39 kroner in 2021
kr10,000 kroner in 1989 kr20,192.79 kroner in 2021
kr50,000 kroner in 1989 kr100,963.95 kroner in 2021
kr100,000 kroner in 1989 kr201,927.9 kroner in 2021
kr500,000 kroner in 1989 kr1,009,639.49 kroner in 2021
kr1,000,000 kroner in 1989 kr2,019,278.97 kroner in 2021
Cumulative inflation From 1989 116.74%
Avg. annual inflation From 1989 2.37%
CPI 1989 57.49
CPI today 124.61

Value of Krone over time (by year)

Period Value
1989 100
1990 104.13
1991 107.71
1992 110.22
1993 112.74
1994 114.29
1995 117.1
1996 118.58
1997 121.63
1998 124.37
1999 127.31
2000 131.24
2001 135.18
2002 136.92
2003 140.32
2004 140.96
2005 143.12
2006 146.46
2007 147.5
2008 153.04
2009 156.4
2010 160.18
2011 162.24
2012 163.37
2013 166.84
2014 170.24
2015 173.94
2016 180.11
2017 183.49
2018 188.56
2019 192.65
2020 195.13
2021 201.93
2022-08 215.51
Today 216.74

All available years

Today's value of norwegian kroner by year:

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 |

Other currencies: