Norway Inflation Calculator

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Result: kr100 in 1960 → kr1,384.29 in 2022


Why a krone today is worth only 7% of a krone in 1960

Updated: January 12, 2022

kr100 in 1960 is equivalent in purchasing power to about kr1,384.29 today, an increase of kr1,284.29 over 62 years. The krone had an average inflation rate of 4.33% per year between 1960 and today, producing a cumulative price increase of 1,284.29%.

This means that today's prices are 13.84 times higher than average prices since 1960, according to the World Bank consumer price index for Norway. A krone today only buys 7.22% of what it could buy back then.

The inflation rate in 1960 was 0.36%. The current year-over-year inflation rate (2021 to 2022) is now 1.29%. If this number holds, kr100 today will be equivalent in buying power to kr101.29 next year.


Inflation from 1960 to 2022
Cumulative price change 1,284.29%
Average inflation rate 4.33%
Converted amount (kr100 base) kr1,384.29
Price difference (kr100 base) kr1,284.29
CPI in 1960 1.004
CPI in 2022 13.893
Inflation in 1960 0.36%
Inflation in 2022 1.29%
kr100 in 1960 kr1,384.29 in 2022

NOK Inflation since 1959
Annual Rate, the World Bank CPI
Download

Buying power of kr100 in 1960

This chart shows a calculation of buying power equivalence for kr100 in 1960 (price index tracking began in 1959).

For example, if you started with kr100, you would need to end with kr1,384.29 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When kr100 is equivalent to kr1,384.29 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 1960 dollars, the chart below shows how kr100 is worth less over 62 years.

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

Krone inflation: 1960-2022
Year Krone Value Inflation Rate
1960 kr100.00 0.36%
1961 kr102.16 2.16%
1962 kr107.54 5.27%
1963 kr110.20 2.47%
1964 kr116.67 5.87%
1965 kr121.55 4.19%
1966 kr125.50 3.25%
1967 kr131.25 4.58%
1968 kr135.78 3.45%
1969 kr139.80 2.96%
1970 kr154.67 10.64%
1971 kr164.30 6.22%
1972 kr176.22 7.26%
1973 kr189.30 7.42%
1974 kr207.11 9.41%
1975 kr231.32 11.69%
1976 kr252.51 9.16%
1977 kr275.50 9.10%
1978 kr297.99 8.16%
1979 kr311.43 4.51%
1980 kr345.31 10.88%
1981 kr392.42 13.64%
1982 kr436.92 11.34%
1983 kr473.91 8.47%
1984 kr503.38 6.22%
1985 kr532.14 5.71%
1986 kr570.33 7.18%
1987 kr620.05 8.72%
1988 kr661.44 6.68%
1989 kr691.51 4.55%
1990 kr720.08 4.13%
1991 kr744.84 3.44%
1992 kr762.18 2.33%
1993 kr779.62 2.29%
1994 kr790.34 1.38%
1995 kr809.79 2.46%
1996 kr820.01 1.26%
1997 kr841.06 2.57%
1998 kr860.01 2.25%
1999 kr880.35 2.37%
2000 kr907.52 3.09%
2001 kr934.78 3.00%
2002 kr946.81 1.29%
2003 kr970.37 2.49%
2004 kr974.78 0.45%
2005 kr989.71 1.53%
2006 kr1,012.76 2.33%
2007 kr1,019.98 0.71%
2008 kr1,058.27 3.75%
2009 kr1,081.52 2.20%
2010 kr1,107.69 2.42%
2011 kr1,121.92 1.28%
2012 kr1,129.74 0.70%
2013 kr1,153.69 2.12%
2014 kr1,177.25 2.04%
2015 kr1,202.81 2.17%
2016 kr1,245.51 3.55%
2017 kr1,268.86 1.88%
2018 kr1,303.94 2.76%
2019 kr1,332.21 2.17%
2020 kr1,349.35 1.29%
2021 kr1,366.71 1.29%
2022 kr1,384.29 1.29%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 56 more rows

This conversion table shows various other 1960 amounts in today's kroner, based on the 1,284.29% change in prices:

Conversion: 1960 kroner today
Initial value Equivalent value
kr1 krone in 1960 kr13.84 kroner today
kr5 kroner in 1960 kr69.21 kroner today
kr10 kroner in 1960 kr138.43 kroner today
kr50 kroner in 1960 kr692.15 kroner today
kr100 kroner in 1960 kr1,384.29 kroner today
kr500 kroner in 1960 kr6,921.47 kroner today
kr1,000 kroner in 1960 kr13,842.94 kroner today
kr5,000 kroner in 1960 kr69,214.71 kroner today
kr10,000 kroner in 1960 kr138,429.42 kroner today
kr50,000 kroner in 1960 kr692,147.09 kroner today
kr100,000 kroner in 1960 kr1,384,294.18 kroner today
kr500,000 kroner in 1960 kr6,921,470.89 kroner today
kr1,000,000 kroner in 1960 kr13,842,941.79 kroner today

How to Calculate Inflation Rate for kr100 since 1960

Our calculations use the following inflation rate formula to calculate the change in value between 1960 and today:

CPI today CPI in 1960
×
1960 NOK value
=
Today's value

Then plug in historical CPI values. The Norwegian CPI was 1.003604923468 in the year 1960 and 13.892844534127505 in 2022:

13.8928445341275051.003604923468
×
kr100
=
kr1,384.29

kr100 in 1960 has the same "purchasing power" or "buying power" as kr1,384.29 in 2022.

To get the total inflation rate for the 62 years between 1960 and 2022, we use the following formula:

CPI in 2022 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (62 years)

Plugging in the values to this equation, we get:

13.892844534127505 - 1.0036049234681.003604923468
×
100
=
1,284%

News headlines from 1960

Politics and news often influence economic performance. Here's what was happening at the time:

  • Johnny Cash plays his first concert in a prison.
  • The Bank of France issues new franc currency, worth 100 times the value of old francs.
  • France grants independence to Cameroon (previously French Cameroon) after years of fighting.
  • Guided missiles are launched for the first time from a nuclear powered submarine

Data Source & Citation

You may use the following MLA citation for this page: “Norway Inflation Calculator: World Bank data, 1960-2022 (NOK).” Official Inflation Data, Alioth Finance, 17 Jan. 2022, https://www.officialdata.org/norway/inflation.

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


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1960 to 2022
Cumulative price change 1,284.29%
Average inflation rate 4.33%
Converted amount (kr100 base) kr1,384.29
Price difference (kr100 base) kr1,284.29
CPI in 1960 1.004
CPI in 2022 13.893
Inflation in 1960 0.36%
Inflation in 2022 1.29%
kr100 in 1960 kr1,384.29 in 2022