# Value of 1996 Norwegian Kroner today

kr100 in 1996

kr164.7 in 2020

The inflation rate in Norway between 1996 and today has been 64.7%, which translates into a total increase of kr64.7. This means that 100 kroner in 1996 are equivalent to 164.7 kroner in 2020. In other words, the purchasing power of kr100 in 1996 equals kr164.7 today. The average annual inflation rate has been 2.02%.

## Inflation timeline in Norway (1996-2020)

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 (1996-2020) 64.64%
Total Inflation* 64.7%
Annual inflation avg. (1996-2020) 2.1%
Annual inflation avg.* 2.02%
CPI 1996 67.6
CPI 2020 111.3
CPI today* 111.34
kr1 in 1996 kr1.65 in 2020

* 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 with 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 24 years between 1996 and 2020 and the average inflation rate has been 2.0159%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)24 = kr164.64

#### 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 1996 was 67.6 and the CPI today is 111.34. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
111.3/67.6
= kr164.64

### Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1996 kr1.65 kroner today
kr5 kroner in 1996 kr8.24 kroner today
kr10 kroner in 1996 kr16.47 kroner today
kr50 kroner in 1996 kr82.35 kroner today
kr100 kroner in 1996 kr164.7 kroner today
kr500 kroner in 1996 kr823.51 kroner today
kr1,000 kroner in 1996 kr1,647.01 kroner today
kr5,000 kroner in 1996 kr8,235.06 kroner today
kr10,000 kroner in 1996 kr16,470.12 kroner today
kr50,000 kroner in 1996 kr82,350.6 kroner today
kr100,000 kroner in 1996 kr164,701.2 kroner today
kr500,000 kroner in 1996 kr823,506.01 kroner today
kr1,000,000 kroner in 1996 kr1,647,012.02 kroner today

Period Value
1996 100
1997 101.78
1998 104.14
1999 106.66
2000 109.62
2001 112.87
2002 115.24
2003 118.34
2004 119.08
2005 120.41
2006 122.63
2007 125.3
2008 128.85
2009 131.66
2010 134.32
2011 138.02
2012 138.17
2013 140.09
2014 142.9
2015 145.86
2016 149.26
2017 154.44
2018 156.95
2019 162.43
2020 164.64
Today 164.7