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Value of 2005 Norwegian Kroner today

kr100 in 2005
kr153.79 in 2022

The inflation rate in Norway between 2005 and today has been 53.79%, which translates into a total increase of kr53.79. This means that 100 kroner in 2005 are equivalent to 153.79 kroner in 2022. In other words, the purchasing power of kr100 in 2005 equals kr153.79 today. The average annual inflation rate between these periods has been 2.56%.

Inflation timeline in Norway (2005 - 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 2005-2021 41.09%
Cumulative inflation 2005-today 53.79%
Avg. Annual inflation 2005-2021 2.17%
CPI 2005 82.28
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 2005 and 2021, use the corresponding CPI values:

Value2021
=Value2005 ×
CPI2021/CPI2005
=kr 100 ×
116.09/82.28
kr141.09

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

Valuetoday
=Value2005 ×
CPItoday/CPI2005
=kr 100 ×
126.54/82.28
kr153.79

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 16 years between 2005 and 2021 and the average inflation rate was 2.1746%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.021746)16
kr141.09

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 2005 kr1.41 kroner in 2021
kr5 kroner in 2005 kr7.05 kroner in 2021
kr10 kroner in 2005 kr14.11 kroner in 2021
kr50 kroner in 2005 kr70.54 kroner in 2021
kr100 kroner in 2005 kr141.09 kroner in 2021
kr500 kroner in 2005 kr705.44 kroner in 2021
kr1,000 kroner in 2005 kr1,410.88 kroner in 2021
kr5,000 kroner in 2005 kr7,054.39 kroner in 2021
kr10,000 kroner in 2005 kr14,108.78 kroner in 2021
kr50,000 kroner in 2005 kr70,543.88 kroner in 2021
kr100,000 kroner in 2005 kr141,087.75 kroner in 2021
kr500,000 kroner in 2005 kr705,438.76 kroner in 2021
kr1,000,000 kroner in 2005 kr1,410,877.51 kroner in 2021
Cumulative inflation From 2005 53.79%
Avg. annual inflation From 2005 2.56%
CPI 2005 82.28
CPI today 126.54

Value of Krone over time (by year)

Period Value
2005 100
2006 102.33
2007 103.06
2008 106.93
2009 109.28
2010 111.92
2011 113.36
2012 114.15
2013 116.57
2014 118.95
2015 121.53
2016 125.85
2017 128.21
2018 131.75
2019 134.61
2020 136.34
2021 141.09
2022-10 153.13
Today 153.79

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 |

Other currencies: