Value of 1994 Norwegian Kroner today

kr100 in 1994

kr169.28 in 2019

The inflation rate in Norway between 1994 and today has been 69.28%, which translates into a total increase of kr69.28. This means that 100 kroner in 1994 are equivalent to 169.28 kroner in 2019. In other words, the purchasing power of kr100 in 1994 equals kr169.28 today. The average annual inflation rate has been 2.05%.

Inflation timeline in Norway (1994-2019)

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 (1994-2019) 68.92%
Total Inflation* 69.28%
Annual inflation avg. (1994-2019) 2.12%
Annual inflation avg.* 2.05%
CPI 1994 65
CPI 2019 109.8
CPI today* 110.03
kr1 in 1994 kr1.69 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 25 years between 1994 and 2019 and the average inflation rate has been 2.0453%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)25 = kr168.92

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 1994 was 65 and the CPI today is 110.03. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/65
= kr168.92

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1994 kr1.69 kroner today
kr5 kroner in 1994 kr8.46 kroner today
kr10 kroner in 1994 kr16.93 kroner today
kr50 kroner in 1994 kr84.64 kroner today
kr100 kroner in 1994 kr169.28 kroner today
kr500 kroner in 1994 kr846.42 kroner today
kr1,000 kroner in 1994 kr1,692.83 kroner today
kr5,000 kroner in 1994 kr8,464.15 kroner today
kr10,000 kroner in 1994 kr16,928.31 kroner today
kr50,000 kroner in 1994 kr84,641.54 kroner today
kr100,000 kroner in 1994 kr169,283.07 kroner today
kr500,000 kroner in 1994 kr846,415.36 kroner today
kr1,000,000 kroner in 1994 kr1,692,830.71 kroner today

Value of Krone in time (by year)

Period Value
1994 100
1995 101.85
1996 104
1997 105.85
1998 108.31
1999 110.92
2000 114
2001 117.38
2002 119.85
2003 123.08
2004 123.85
2005 125.23
2006 127.54
2007 130.31
2008 134
2009 136.92
2010 139.69
2011 143.54
2012 143.69
2013 145.69
2014 148.62
2015 151.69
2016 155.23
2017 160.62
2018 163.23
2019 168.92
Today 169.28