# Value of 2003 Swedish Kronor today

kr100 in 2003

kr122.85 in 2020

The inflation rate in Sweden between 2003 and today has been 22.85%, which translates into a total increase of kr22.85. This means that 100 kronor in 2003 are equivalent to 122.85 kronor in 2020. In other words, the purchasing power of kr100 in 2003 equals kr122.85 today. The average annual inflation rate has been 1.15%.

## Inflation timeline in Sweden (2003-2020)

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 (2003-2020) 22.76%
Total Inflation* 22.85%
Annual inflation avg. (2003-2020) 1.21%
Annual inflation avg.* 1.15%
CPI 2003 87.78
CPI 2020 107.77
CPI today* 107.84
kr1 in 2003 kr1.23 in 2020

* 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 with 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 2003 and 2020 and the average inflation rate has been 1.1496%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = kr100 * (1 + 0.01)17 = kr122.76

#### 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 2003 was 87.78 and the CPI today is 107.84. Therefore,

Final value = Initial value *
CPI final/CPI initial
= kr100 *
107.77/87.78
= kr122.76

### Sweden inflation - Conversion table

Initial Value Equivalent value
kr1 krona in 2003 kr1.23 kronor today
kr5 kronor in 2003 kr6.14 kronor today
kr10 kronor in 2003 kr12.28 kronor today
kr50 kronor in 2003 kr61.42 kronor today
kr100 kronor in 2003 kr122.85 kronor today
kr500 kronor in 2003 kr614.23 kronor today
kr1,000 kronor in 2003 kr1,228.45 kronor today
kr5,000 kronor in 2003 kr6,142.25 kronor today
kr10,000 kronor in 2003 kr12,284.5 kronor today
kr50,000 kronor in 2003 kr61,422.52 kronor today
kr100,000 kronor in 2003 kr122,845.04 kronor today
kr500,000 kronor in 2003 kr614,225.19 kronor today
kr1,000,000 kronor in 2003 kr1,228,450.37 kronor today

Period Value
2003 100
2004 101.27
2005 101.56
2006 102.45
2007 104.13
2008 107.73
2009 108.7
2010 109.32
2011 111.88
2012 114.44
2013 114.37
2014 114.53
2015 114.17
2016 114.23
2017 116.22
2018 118.24
2019 120.65
2020 122.76
Today 122.85