Value of 2005 Norwegian Kroner today

kr100 in 2005

kr135.18 in 2019

The inflation rate in Norway between 2005 and today has been 35.18%, which translates into a total increase of kr35.18. This means that 100 kroner in 2005 are equivalent to 135.18 kroner in 2019. In other words, the purchasing power of kr100 in 2005 equals kr135.18 today. The average annual inflation rate has been 2.03%.

Inflation timeline in Norway (2005-2019)

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 (2005-2019) 34.89%
Total Inflation* 35.18%
Annual inflation avg. (2005-2019) 2.16%
Annual inflation avg.* 2.03%
CPI 2005 81.4
CPI 2019 109.8
CPI today* 110.03
kr1 in 2005 kr1.35 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 14 years between 2005 and 2019 and the average inflation rate has been 2.0298%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.02)14 = kr134.89

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 2005 was 81.4 and the CPI today is 110.03. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
109.8/81.4
= kr134.89

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 2005 kr1.35 kroner today
kr5 kroner in 2005 kr6.76 kroner today
kr10 kroner in 2005 kr13.52 kroner today
kr50 kroner in 2005 kr67.59 kroner today
kr100 kroner in 2005 kr135.18 kroner today
kr500 kroner in 2005 kr675.88 kroner today
kr1,000 kroner in 2005 kr1,351.77 kroner today
kr5,000 kroner in 2005 kr6,758.84 kroner today
kr10,000 kroner in 2005 kr13,517.69 kroner today
kr50,000 kroner in 2005 kr67,588.45 kroner today
kr100,000 kroner in 2005 kr135,176.9 kroner today
kr500,000 kroner in 2005 kr675,884.5 kroner today
kr1,000,000 kroner in 2005 kr1,351,769 kroner today

Value of Krone in time (by year)

Period Value
2005 100
2006 101.84
2007 104.05
2008 107
2009 109.34
2010 111.55
2011 114.62
2012 114.74
2013 116.34
2014 118.67
2015 121.13
2016 123.96
2017 128.26
2018 130.34
2019 134.89
Today 135.18