Result: kr100 in 2008 → kr208.48 in 2024
The Icelandic Krona has lost 52% its value since 2008
Updated: April 10, 2025kr100 in 2008 is equivalent in purchasing power to about kr208.48 today, an increase of kr108.48 over 16 years. The krona had an average inflation rate of 4.70% per year between 2008 and today, producing a cumulative price increase of 108.48%.
This means that today's prices are 2.08 times as high as average prices since 2008, according to the OECD and the World Bank consumer price index for Iceland. A krona today only buys 47.966% of what it could buy back then.
The inflation rate in 2008 was 12.69%. The current inflation rate compared to the end of last year is now 7.65%. If this number holds, kr100 today will be equivalent in buying power to kr107.65 next year.
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| Cumulative price change | 108.48% |
| Average inflation rate | 4.70% |
| Converted amount kr100 base | kr208.48 |
| Price difference kr100 base | kr108.48 |
| CPI in 2008 | 71.882 |
| CPI in 2024 | 149.860 |
| Inflation in 2008 | 12.69% |
| Inflation in 2024 | 7.65% |
| kr100 in 2008 | kr208.48 in 2024 |
Buying power of kr100 in 2008
This chart shows a calculation of buying power equivalence for kr100 in 2008 (price index tracking began in 1955).
For example, if you started with kr100, you would need to end with kr208.48 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When kr100 is equivalent to kr208.48 over time, that means that the "real value" of a single Icelandic krona decreases over time. In other words, a krona will pay for fewer items at the store.
This effect explains how inflation erodes the value of a krona over time. By calculating the value in 2008 dollars, the chart below shows how kr100 is worth less over 16 years.
According to the OECD and the World Bank, each of these ISK amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 2008 amounts in today's kronur, based on the 108.48% change in prices:
| Initial value | Equivalent value |
|---|---|
| kr1 krona in 2008 | kr2.08 kronur today |
| kr5 kronur in 2008 | kr10.42 kronur today |
| kr10 kronur in 2008 | kr20.85 kronur today |
| kr50 kronur in 2008 | kr104.24 kronur today |
| kr100 kronur in 2008 | kr208.48 kronur today |
| kr500 kronur in 2008 | kr1,042.40 kronur today |
| kr1,000 kronur in 2008 | kr2,084.80 kronur today |
| kr5,000 kronur in 2008 | kr10,423.99 kronur today |
| kr10,000 kronur in 2008 | kr20,847.98 kronur today |
| kr50,000 kronur in 2008 | kr104,239.90 kronur today |
| kr100,000 kronur in 2008 | kr208,479.80 kronur today |
| kr500,000 kronur in 2008 | kr1,042,399.01 kronur today |
| kr1,000,000 kronur in 2008 | kr2,084,798.03 kronur today |
How to calculate inflation rate for kr100 since 2008
Our calculations use the following inflation rate formula to calculate the change in value between 2008 and today:
CPI today CPI in 2008
×
2008 ISK value
=
Today's value
Then plug in historical CPI values. The Icelandic CPI was 71.88245 in the year 2008 and 149.86038988712764 in 2024:
149.8603898871276471.88245
×
kr100
=
kr208.48
kr100 in 2008 has the same "purchasing power" or "buying power" as kr208.48 in 2024.
To get the total inflation rate for the 16 years between 2008 and 2024, we use the following formula:
CPI in 2024 - CPI in 2008CPI in 2008
×
100
=
Cumulative inflation rate (16 years)
Plugging in the values to this equation, we get:
149.86038988712764 - 71.8824571.88245
×
100
=
108%
Data source & citation
You may use the following MLA citation for this page: “Value of 2008 Icelandic Kronur today | Iceland Inflation Calculator.” Official Inflation Data, Alioth Finance, 8 May. 2025, https://www.officialdata.org/iceland/inflation/2008.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 108.48% |
| Average inflation rate | 4.70% |
| Converted amount kr100 base | kr208.48 |
| Price difference kr100 base | kr108.48 |
| CPI in 2008 | 71.882 |
| CPI in 2024 | 149.860 |
| Inflation in 2008 | 12.69% |
| Inflation in 2024 | 7.65% |
| kr100 in 2008 | kr208.48 in 2024 |
