Value of 2002 Swedish Kronor today

kr100 in 2002

kr123.33 in 2019

The inflation rate in Sweden between 2002 and today has been 23.33%, which translates into a total increase of kr23.33. This means that 100 kronor in 2002 are equivalent to 123.33 kronor in 2019. In other words, the purchasing power of kr100 in 2002 equals kr123.33 today. The average annual inflation rate has been 1.17%.

Inflation timeline in Sweden (2002-2019)

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 (SEK) 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 (2002-2019) 23.16%
Total Inflation* 23.33%
Annual inflation avg. (2002-2019) 1.23%
Annual inflation avg.* 1.17%
CPI 2002 85.99
CPI 2019 105.91
CPI today* 106.06
kr1 in 2002 kr1.23 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 17 years between 2002 and 2019 and the average inflation rate has been 1.1717%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.01)17 = kr123.16

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 2002 was 85.99 and the CPI today is 106.06. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
105.91/85.99
= kr123.16

Sweden inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 2002 kr1.23 kronor today
kr5 kronor in 2002 kr6.17 kronor today
kr10 kronor in 2002 kr12.33 kronor today
kr50 kronor in 2002 kr61.66 kronor today
kr100 kronor in 2002 kr123.33 kronor today
kr500 kronor in 2002 kr616.64 kronor today
kr1,000 kronor in 2002 kr1,233.29 kronor today
kr5,000 kronor in 2002 kr6,166.44 kronor today
kr10,000 kronor in 2002 kr12,332.87 kronor today
kr50,000 kronor in 2002 kr61,664.37 kronor today
kr100,000 kronor in 2002 kr123,328.73 kronor today
kr500,000 kronor in 2002 kr616,643.65 kronor today
kr1,000,000 kronor in 2002 kr1,233,287.3 kronor today

Value of Krona in time (by year)

Period Value
2002 100
2003 102.08
2004 103.38
2005 103.67
2006 104.59
2007 106.3
2008 109.97
2009 110.96
2010 111.6
2011 114.21
2012 116.82
2013 116.76
2014 116.92
2015 116.55
2016 116.61
2017 118.64
2018 120.7
2019 123.16
Today 123.33