Value of 1991 Norwegian Kroner today

kr100 in 1991

kr181.24 in 2019

The inflation rate in Norway between 1991 and today has been 81.24%, which translates into a total increase of kr81.24. This means that 100 kroner in 1991 are equivalent to 181.24 kroner in 2019. In other words, the purchasing power of kr100 in 1991 equals kr181.24 today. The average annual inflation rate has been 2.07%.

Inflation timeline in Norway (1991-2019)

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 (1991-2019) 80.89%
Total Inflation* 81.24%
Annual inflation avg. (1991-2019) 2.14%
Annual inflation avg.* 2.07%
CPI 1991 60.7
CPI 2019 109.8
CPI today* 110.01
kr1 in 1991 kr1.81 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 28 years between 1991 and 2019 and the average inflation rate has been 2.0717%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)28 = kr180.89

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 1991 was 60.7 and the CPI today is 110.01. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/60.7
= kr180.89

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1991 kr1.81 kroner today
kr5 kroner in 1991 kr9.06 kroner today
kr10 kroner in 1991 kr18.12 kroner today
kr50 kroner in 1991 kr90.62 kroner today
kr100 kroner in 1991 kr181.24 kroner today
kr500 kroner in 1991 kr906.2 kroner today
kr1,000 kroner in 1991 kr1,812.4 kroner today
kr5,000 kroner in 1991 kr9,062 kroner today
kr10,000 kroner in 1991 kr18,124.01 kroner today
kr50,000 kroner in 1991 kr90,620.04 kroner today
kr100,000 kroner in 1991 kr181,240.07 kroner today
kr500,000 kroner in 1991 kr906,200.36 kroner today
kr1,000,000 kroner in 1991 kr1,812,400.72 kroner today

Value of Krone in time (by year)

Period Value
1991 100
1992 102.8
1993 105.11
1994 107.08
1995 109.06
1996 111.37
1997 113.34
1998 115.98
1999 118.78
2000 122.08
2001 125.7
2002 128.34
2003 131.8
2004 132.62
2005 134.1
2006 136.57
2007 139.54
2008 143.49
2009 146.62
2010 149.59
2011 153.71
2012 153.87
2013 156.01
2014 159.14
2015 162.44
2016 166.23
2017 171.99
2018 174.79
2019 180.89
Today 181.24