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Value of 1996 Norwegian Kroner today

kr100 in 1996
kr179.2 in 2022

The inflation rate in Norway between 1996 and today has been 79.2%, which translates into a total increase of kr79.2. This means that 100 kroner in 1996 are equivalent to 179.2 kroner in 2022. In other words, the purchasing power of kr100 in 1996 equals kr179.2 today. The average annual inflation rate between these periods has been 2.27%.

Inflation timeline in Norway (1996 - 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 1996-2021 70.28%
Cumulative inflation 1996-today 79.2%
Avg. Annual inflation 1996-2021 2.15%
CPI 1996 68.18
CPI 2021 116.09
CPI 2022-05 (latest official data) 121.5
CPI today 122.17

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 1996 and 2021, use the corresponding CPI values:

Value2021
=Value1996 ×
CPI2021/CPI1996
=kr 100 ×
116.09/68.18
kr170.28

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 122.17:

Valuetoday
=Value1996 ×
CPItoday/CPI1996
=kr 100 ×
122.17/68.18
kr179.2

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 25 years between 1996 and 2021 and the average inflation rate was 2.152%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.02152)25
kr170.28

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1996 kr1.7 kroner in 2021
kr5 kroner in 1996 kr8.51 kroner in 2021
kr10 kroner in 1996 kr17.03 kroner in 2021
kr50 kroner in 1996 kr85.14 kroner in 2021
kr100 kroner in 1996 kr170.28 kroner in 2021
kr500 kroner in 1996 kr851.42 kroner in 2021
kr1,000 kroner in 1996 kr1,702.85 kroner in 2021
kr5,000 kroner in 1996 kr8,514.24 kroner in 2021
kr10,000 kroner in 1996 kr17,028.49 kroner in 2021
kr50,000 kroner in 1996 kr85,142.43 kroner in 2021
kr100,000 kroner in 1996 kr170,284.86 kroner in 2021
kr500,000 kroner in 1996 kr851,424.28 kroner in 2021
kr1,000,000 kroner in 1996 kr1,702,848.55 kroner in 2021
Cumulative inflation From 1996 79.2%
Avg. annual inflation From 1996 2.27%
CPI 1996 68.18
CPI today 122.17

Value of Krone over time (by year)

Period Value
1996 100
1997 102.57
1998 104.88
1999 107.36
2000 110.67
2001 114
2002 115.46
2003 118.34
2004 118.87
2005 120.69
2006 123.51
2007 124.39
2008 129.06
2009 131.89
2010 135.08
2011 136.82
2012 137.77
2013 140.69
2014 143.56
2015 146.68
2016 151.89
2017 154.74
2018 159.01
2019 162.46
2020 164.55
2021 170.28
2022-05 178.22
Today 179.2

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: