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Value of 1997 Norwegian Kroner today

kr100 in 1997
kr180.97 in 2022

The inflation rate in Norway between 1997 and today has been 80.97%, which translates into a total increase of kr80.97. This means that 100 kroner in 1997 are equivalent to 180.97 kroner in 2022. In other words, the purchasing power of kr100 in 1997 equals kr180.97 today. The average annual inflation rate between these periods has been 2.4%.

Inflation timeline in Norway (1997 - 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 1997-2021 66.02%
Cumulative inflation 1997-today 80.97%
Avg. Annual inflation 1997-2021 2.13%
CPI 1997 69.93
CPI 2021 116.09
CPI 2022-10 (latest official data) 126
CPI today 126.54

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 1997 and 2021, use the corresponding CPI values:

Value2021
=Value1997 ×
CPI2021/CPI1997
=kr 100 ×
116.09/69.93
kr166.02

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.54:

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=kr 100 ×
126.54/69.93
kr180.97

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 24 years between 1997 and 2021 and the average inflation rate was 2.1348%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.021348)24
kr166.02

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1997 kr1.66 kroner in 2021
kr5 kroner in 1997 kr8.3 kroner in 2021
kr10 kroner in 1997 kr16.6 kroner in 2021
kr50 kroner in 1997 kr83.01 kroner in 2021
kr100 kroner in 1997 kr166.02 kroner in 2021
kr500 kroner in 1997 kr830.12 kroner in 2021
kr1,000 kroner in 1997 kr1,660.23 kroner in 2021
kr5,000 kroner in 1997 kr8,301.16 kroner in 2021
kr10,000 kroner in 1997 kr16,602.32 kroner in 2021
kr50,000 kroner in 1997 kr83,011.58 kroner in 2021
kr100,000 kroner in 1997 kr166,023.17 kroner in 2021
kr500,000 kroner in 1997 kr830,115.84 kroner in 2021
kr1,000,000 kroner in 1997 kr1,660,231.68 kroner in 2021
Cumulative inflation From 1997 80.97%
Avg. annual inflation From 1997 2.4%
CPI 1997 69.93
CPI today 126.54

Value of Krone over time (by year)

Period Value
1997 100
1998 102.25
1999 104.67
2000 107.9
2001 111.14
2002 112.57
2003 115.37
2004 115.9
2005 117.67
2006 120.41
2007 121.27
2008 125.83
2009 128.59
2010 131.7
2011 133.39
2012 134.32
2013 137.17
2014 139.97
2015 143.01
2016 148.09
2017 150.86
2018 155.04
2019 158.4
2020 160.43
2021 166.02
2022-10 180.19
Today 180.97

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 |

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