kr

Value of 1999 Norwegian Kroner today

kr100 in 1999
kr182.74 in 2024

The inflation rate in Norway between 1999 and today has been 82.74%, which translates into a total increase of kr82.74. This means that 100 kroner in 1999 are equivalent to 182.74 kroner in 2024. In other words, the purchasing power of kr100 in 1999 equals kr182.74 today. The average annual inflation rate between these periods has been 2.44%.

Inflation timeline in Norway (1999 - 2024)

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 1999-2023 77.01%
Cumulative inflation 1999-today 82.74%
Avg. Annual inflation 1999-2023 2.41%
CPI 1999 73.19
CPI 2023 129.56
CPI 2024-05 (latest official data) 133.5
CPI today 133.75

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 1999 and 2023, use the corresponding CPI values:

Value2023
=Value1999 ×
CPI2023/CPI1999
=kr 100 ×
129.56/73.19
kr177.01

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 133.75:

Valuetoday
=Value1999 ×
CPItoday/CPI1999
=kr 100 ×
133.75/73.19
kr182.74

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 1999 and 2023 and the average inflation rate was 2.4079%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=kr100 × (1 + 0.024079)24
kr177.01

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1999 kr1.77 kroner in 2023
kr5 kroner in 1999 kr8.85 kroner in 2023
kr10 kroner in 1999 kr17.7 kroner in 2023
kr50 kroner in 1999 kr88.51 kroner in 2023
kr100 kroner in 1999 kr177.01 kroner in 2023
kr500 kroner in 1999 kr885.06 kroner in 2023
kr1,000 kroner in 1999 kr1,770.12 kroner in 2023
kr5,000 kroner in 1999 kr8,850.62 kroner in 2023
kr10,000 kroner in 1999 kr17,701.24 kroner in 2023
kr50,000 kroner in 1999 kr88,506.18 kroner in 2023
kr100,000 kroner in 1999 kr177,012.36 kroner in 2023
kr500,000 kroner in 1999 kr885,061.78 kroner in 2023
kr1,000,000 kroner in 1999 kr1,770,123.57 kroner in 2023
Cumulative inflation From 1999 82.74%
Avg. annual inflation From 1999 2.44%
CPI 1999 73.19
CPI today 133.75

Value of Krone over time (by year)

Period Value
1999 100
2000 103.09
2001 106.18
2002 107.55
2003 110.22
2004 110.73
2005 112.42
2006 115.04
2007 115.86
2008 120.21
2009 122.85
2010 125.82
2011 127.44
2012 128.33
2013 131.05
2014 133.72
2015 136.63
2016 141.48
2017 144.13
2018 148.12
2019 151.33
2020 153.27
2021 158.61
2022 167.76
2023 177.01
2024-05 182.4
Today 182.74

All available years

Today's value of norwegian kroner by year:

1955 | 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 | 2022 | 2023 |

Other currencies: