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Value of 1991 Norwegian Kroner today

kr100 in 1991
kr197.16 in 2022

The inflation rate in Norway between 1991 and today has been 97.16%, which translates into a total increase of kr97.16. This means that 100 kroner in 1991 are equivalent to 197.16 kroner in 2022. In other words, the purchasing power of kr100 in 1991 equals kr197.16 today. The average annual inflation rate between these periods has been 2.21%.

Inflation timeline in Norway (1991 - 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 1991-2021 87.47%
Cumulative inflation 1991-today 97.16%
Avg. Annual inflation 1991-2021 2.12%
CPI 1991 61.93
CPI 2021 116.09
CPI 2022-05 (latest official data) 121.5
CPI today 122.09

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 1991 and 2021, use the corresponding CPI values:

Value2021
=Value1991 ×
CPI2021/CPI1991
=kr 100 ×
116.09/61.93
kr187.47

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.09:

Valuetoday
=Value1991 ×
CPItoday/CPI1991
=kr 100 ×
122.09/61.93
kr197.16

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 30 years between 1991 and 2021 and the average inflation rate was 2.117%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.02117)30
kr187.47

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1991 kr1.87 kroner in 2021
kr5 kroner in 1991 kr9.37 kroner in 2021
kr10 kroner in 1991 kr18.75 kroner in 2021
kr50 kroner in 1991 kr93.74 kroner in 2021
kr100 kroner in 1991 kr187.47 kroner in 2021
kr500 kroner in 1991 kr937.36 kroner in 2021
kr1,000 kroner in 1991 kr1,874.71 kroner in 2021
kr5,000 kroner in 1991 kr9,373.57 kroner in 2021
kr10,000 kroner in 1991 kr18,747.15 kroner in 2021
kr50,000 kroner in 1991 kr93,735.73 kroner in 2021
kr100,000 kroner in 1991 kr187,471.46 kroner in 2021
kr500,000 kroner in 1991 kr937,357.29 kroner in 2021
kr1,000,000 kroner in 1991 kr1,874,714.57 kroner in 2021
Cumulative inflation From 1991 97.16%
Avg. annual inflation From 1991 2.21%
CPI 1991 61.93
CPI today 122.09

Value of Krone over time (by year)

Period Value
1991 100
1992 102.33
1993 104.67
1994 106.11
1995 108.72
1996 110.09
1997 112.92
1998 115.46
1999 118.19
2000 121.84
2001 125.5
2002 127.12
2003 130.28
2004 130.87
2005 132.88
2006 135.97
2007 136.94
2008 142.08
2009 145.2
2010 148.71
2011 150.63
2012 151.68
2013 154.89
2014 158.05
2015 161.49
2016 167.22
2017 170.35
2018 175.06
2019 178.86
2020 181.16
2021 187.47
2022-05 196.21
Today 197.16

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: