Value of 1999 Norwegian Kroner today

kr100 in 1999

kr156.69 today

The inflation rate in Norway between 1999 and today has been 56.69%, which translates into a total increase of kr56.69. This means that 100 kroner in 1999 are equivalent to 156.69 kroner in 2021. In other words, the purchasing power of kr100 in 1999 equals kr156.69 today. The average annual inflation rate has been 1.97%.

Inflation timeline in Norway (1999-2022)

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 (1999-2021) 56.59%
Total Inflation* 56.69%
Annual inflation avg. (1999-2021) 2.06%
Annual inflation avg.* 1.97%
CPI 1999 72.1
CPI 2021 112.9
CPI today* 112.98
kr1 in 1999 kr1.57 in 2021

* 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 22 years between 1999 and 2021 and the average inflation rate has been 1.9719%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)22 = kr156.59

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 1999 was 72.1 and the CPI today is 112.98. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
= kr156.59

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 1999 kr1.57 kroner today
kr5 kroner in 1999 kr7.83 kroner today
kr10 kroner in 1999 kr15.67 kroner today
kr50 kroner in 1999 kr78.35 kroner today
kr100 kroner in 1999 kr156.69 kroner today
kr500 kroner in 1999 kr783.47 kroner today
kr1,000 kroner in 1999 kr1,566.94 kroner today
kr5,000 kroner in 1999 kr7,834.72 kroner today
kr10,000 kroner in 1999 kr15,669.44 kroner today
kr50,000 kroner in 1999 kr78,347.19 kroner today
kr100,000 kroner in 1999 kr156,694.37 kroner today
kr500,000 kroner in 1999 kr783,471.86 kroner today
kr1,000,000 kroner in 1999 kr1,566,943.71 kroner today

Value of Krone over time (by year)

Period Value
1999 100
2000 102.77
2001 105.83
2002 108.04
2003 110.96
2004 111.65
2005 112.9
2006 114.98
2007 117.48
2008 120.8
2009 123.44
2010 125.94
2011 129.4
2012 129.54
2013 131.35
2014 133.98
2015 136.75
2016 139.94
2017 144.8
2018 147.16
2019 152.29
2020 154.37
2021 156.59
Today 156.69