# Norway Inflation Calculator

kr

Result: kr100 in 1956 → kr1,814.22 in 2024

## The Norwegian Krone has lost 94% its value since 1956

Updated: July 11, 2024

kr100 in 1956 is equivalent in purchasing power to about kr1,814.22 today, an increase of kr1,714.22 over 68 years. The krone had an average inflation rate of 4.35% per year between 1956 and today, producing a cumulative price increase of 1,714.22%.

This means that today's prices are 18.14 times as high as average prices since 1956, according to the OECD and the World Bank consumer price index for Norway. A krone today only buys 5.512% of what it could buy back then.

The inflation rate in 1956 was 3.80%. The current inflation rate compared to the end of last year is now 3.89%. If this number holds, kr100 today will be equivalent in buying power to kr103.89 next year.

 Cumulative price change 1,714.22% Average inflation rate 4.35% Converted amountkr100 base kr1,814.22 Price differencekr100 base kr1,714.22 CPI in 1956 7.496 CPI in 2024 135.987 Inflation in 1956 3.80% Inflation in 2024 3.89% kr100 in 1956 kr1,814.22 in 2024

NOK inflation since 1956
Annual Rate, the OECD and the World Bank CPI

## Buying power of kr100 in 1956

This chart shows a calculation of buying power equivalence for kr100 in 1956 (price index tracking began in 1955).

For example, if you started with kr100, you would need to end with kr1,814.22 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When kr100 is equivalent to kr1,814.22 over time, that means that the "real value" of a single Norwegian krone decreases over time. In other words, a krone will pay for fewer items at the store.

This effect explains how inflation erodes the value of a krone over time. By calculating the value in 1956 dollars, the chart below shows how kr100 is worth less over 68 years.

According to the OECD and the World Bank, each of these NOK amounts below is equal in terms of what it could buy at the time:

Krone inflation: 1956-2024
YearKrone ValueInflation Rate
1956kr100.003.80%
1957kr102.872.87%
1958kr108.055.03%
1959kr110.522.29%
1960kr110.920.36%
1961kr113.312.16%
1962kr119.285.27%
1963kr122.232.47%
1964kr129.405.87%
1965kr134.824.19%
1966kr139.203.25%
1967kr145.584.58%
1968kr150.603.45%
1969kr155.062.96%
1970kr171.5510.64%
1971kr182.236.22%
1972kr195.467.26%
1973kr209.967.42%
1974kr229.729.41%
1975kr256.5711.69%
1976kr280.089.16%
1977kr305.589.10%
1978kr330.528.16%
1979kr345.424.51%
1980kr383.0010.88%
1981kr435.2513.64%
1982kr484.6211.34%
1983kr525.648.47%
1984kr558.336.22%
1985kr590.235.71%
1986kr632.597.18%
1987kr687.738.72%
1988kr733.656.68%
1989kr767.004.55%
1990kr798.694.13%
1991kr826.153.44%
1992kr845.382.33%
1993kr864.732.29%
1994kr876.621.38%
1995kr898.192.46%
1996kr909.531.26%
1997kr932.882.57%
1998kr953.892.25%
1999kr976.462.37%
2000kr1,006.593.09%
2001kr1,036.833.00%
2002kr1,050.171.29%
2003kr1,076.292.49%
2004kr1,081.190.45%
2005kr1,097.751.53%
2006kr1,123.322.33%
2007kr1,131.330.71%
2008kr1,173.793.75%
2009kr1,199.592.20%
2010kr1,228.602.42%
2011kr1,244.391.28%
2012kr1,253.060.70%
2013kr1,279.632.12%
2014kr1,305.762.04%
2015kr1,334.112.17%
2016kr1,381.473.55%
2017kr1,407.381.88%
2018kr1,446.292.76%
2019kr1,477.642.17%
2020kr1,496.651.29%
2021kr1,548.793.48%
2022kr1,638.065.76%
2023kr1,737.016.04%
2024kr1,814.224.45%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 62 more rows

This conversion table shows various other 1956 amounts in today's kroner, based on the 1,714.22% change in prices:

Conversion: 1956 kroner today
Initial valueEquivalent value
kr1 krone in 1956kr18.14 kroner today
kr5 kroner in 1956kr90.71 kroner today
kr10 kroner in 1956kr181.42 kroner today
kr50 kroner in 1956kr907.11 kroner today
kr100 kroner in 1956kr1,814.22 kroner today
kr500 kroner in 1956kr9,071.11 kroner today
kr1,000 kroner in 1956kr18,142.22 kroner today
kr5,000 kroner in 1956kr90,711.12 kroner today
kr10,000 kroner in 1956kr181,422.24 kroner today
kr50,000 kroner in 1956kr907,111.18 kroner today
kr100,000 kroner in 1956kr1,814,222.37 kroner today
kr500,000 kroner in 1956kr9,071,111.83 kroner today
kr1,000,000 kroner in 1956kr18,142,223.66 kroner today

## How to calculate inflation rate for kr100 since 1956

Our calculations use the following inflation rate formula to calculate the change in value between 1956 and today:

CPI today CPI in 1956
×
1956 NOK value
=
Today's value

Then plug in historical CPI values. The Norwegian CPI was 7.495633 in the year 1956 and 135.98745035742655 in 2024:

135.987450357426557.495633
×
kr100
=
kr1,814.22

kr100 in 1956 has the same "purchasing power" or "buying power" as kr1,814.22 in 2024.

To get the total inflation rate for the 68 years between 1956 and 2024, we use the following formula:

CPI in 2024 - CPI in 1956CPI in 1956
×
100
=
Cumulative inflation rate (68 years)

Plugging in the values to this equation, we get:

135.98745035742655 - 7.4956337.495633
×
100
=
1,714%

## Data source & citation

You may use the following MLA citation for this page: “Norway Inflation Calculator: World Bank data, 1956-2024 (NOK).” Official Inflation Data, Alioth Finance, 13 Jul. 2024, https://www.officialdata.org/norway/inflation.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.