Value of 2001 Norwegian Kroner today

kr100 in 2001

kr144.24 in 2019

The inflation rate in Norway between 2001 and today has been 44.24%, which translates into a total increase of kr44.24. This means that 100 kroner in 2001 are equivalent to 144.24 kroner in 2019. In other words, the purchasing power of kr100 in 2001 equals kr144.24 today. The average annual inflation rate has been 1.95%.

Inflation timeline in Norway (2001-2019)

The following chart ilustrates the equivalence of kr100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (2001-2019) 43.91%
Total Inflation* 44.24%
Annual inflation avg. (2001-2019) 2.04%
Annual inflation avg.* 1.95%
CPI 2001 76.3
CPI 2019 109.8
CPI today* 110.06
kr1 in 2001 kr1.44 in 2019

* 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 in 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 18 years between 2001 and 2019 and the average inflation rate has been 1.9467%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)18 = kr143.91

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 2001 was 76.3 and the CPI today is 110.06. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/76.3
= kr143.91

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 2001 kr1.44 kroner today
kr5 kroner in 2001 kr7.21 kroner today
kr10 kroner in 2001 kr14.42 kroner today
kr50 kroner in 2001 kr72.12 kroner today
kr100 kroner in 2001 kr144.24 kroner today
kr500 kroner in 2001 kr721.2 kroner today
kr1,000 kroner in 2001 kr1,442.4 kroner today
kr5,000 kroner in 2001 kr7,212.01 kroner today
kr10,000 kroner in 2001 kr14,424.02 kroner today
kr50,000 kroner in 2001 kr72,120.1 kroner today
kr100,000 kroner in 2001 kr144,240.19 kroner today
kr500,000 kroner in 2001 kr721,200.97 kroner today
kr1,000,000 kroner in 2001 kr1,442,401.95 kroner today

Value of Krone in time (by year)

Period Value
2001 100
2002 102.1
2003 104.85
2004 105.5
2005 106.68
2006 108.65
2007 111.01
2008 114.15
2009 116.64
2010 119
2011 122.28
2012 122.41
2013 124.12
2014 126.61
2015 129.23
2016 132.24
2017 136.83
2018 139.06
2019 143.91
Today 144.24