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Value of 2017 Norwegian Kroner today

kr100 in 2017
kr115.23 in 2022

The inflation rate in Norway between 2017 and today has been 15.23%, which translates into a total increase of kr15.23. This means that 100 kroner in 2017 are equivalent to 115.23 kroner in 2022. In other words, the purchasing power of kr100 in 2017 equals kr115.23 today. The average annual inflation rate between these periods has been 2.88%.

Inflation timeline in Norway (2017 - 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 2017-2021 10.05%
Cumulative inflation 2017-today 15.23%
Avg. Annual inflation 2017-2021 2.42%
CPI 2017 105.49
CPI 2021 116.09
CPI 2022-04 (latest official data) 121.2
CPI today 121.56

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 2017 and 2021, use the corresponding CPI values:

Value2021
=Value2017 ×
CPI2021/CPI2017
=kr 100 ×
116.09/105.49
kr110.05

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.56:

Valuetoday
=Value2017 ×
CPItoday/CPI2017
=kr 100 ×
121.56/105.49
kr115.23

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 4 years between 2017 and 2021 and the average inflation rate was 2.4226%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=kr100 × (1 + 0.024226)4
kr110.05

Norway inflation - Conversion table

Initial Value Equivalent value
kr1 krone in 2017 kr1.1 kroner in 2021
kr5 kroner in 2017 kr5.5 kroner in 2021
kr10 kroner in 2017 kr11 kroner in 2021
kr50 kroner in 2017 kr55.02 kroner in 2021
kr100 kroner in 2017 kr110.05 kroner in 2021
kr500 kroner in 2017 kr550.24 kroner in 2021
kr1,000 kroner in 2017 kr1,100.48 kroner in 2021
kr5,000 kroner in 2017 kr5,502.41 kroner in 2021
kr10,000 kroner in 2017 kr11,004.82 kroner in 2021
kr50,000 kroner in 2017 kr55,024.09 kroner in 2021
kr100,000 kroner in 2017 kr110,048.18 kroner in 2021
kr500,000 kroner in 2017 kr550,240.92 kroner in 2021
kr1,000,000 kroner in 2017 kr1,100,481.84 kroner in 2021
Cumulative inflation From 2017 15.23%
Avg. annual inflation From 2017 2.88%
CPI 2017 105.49
CPI today 121.56

Value of Krone over time (by year)

Period Value
2017 100
2018 102.76
2019 104.99
2020 106.34
2021 110.05
2022-04 114.89
Today 115.23

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: