**Result:**
kr100
in 1961 →
kr1,347.99
in 2020

According to the World Bank consumer price index for Norway, today's prices in 2020 are 1,247.99% higher than average prices since 1961. The Norwegian Krone experienced an average inflation rate of 4.51% per year during this period, meaning the real value of a krone decreased.

In other words, kr100 in 1961 is equivalent in purchasing power to about kr1,347.99 in 2020, a difference of kr1,247.99 over 59 years. This inflation data is collected by the World Bank and is specific to Norway.

The 1961 inflation rate was 2.16%. The current inflation rate (2019 to 2020) is now 2.76%^{1}. If this number holds, kr100 today will be equivalent in buying power to kr102.76 next year.

⌃

Cumulative price change | 1,247.99% |

Average inflation rate | 4.51% |

Converted amount (kr100 base) | kr1,347.99 |

Price difference (kr100 base) | kr1,247.99 |

CPI in 1961 | 9.222 |

CPI in 2020 | 124.317 |

Inflation in 1961 | 2.16% |

Inflation in 2020 | 2.76% |

This chart shows a calculation of buying power equivalence for kr100 in 1961 (price index tracking began in 1960).

For example, if you started with kr100, you would need to end with kr1,347.99 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When kr100 is equivalent to kr1,347.99 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 1961 dollars, the chart below shows how kr100 buys less over the past 59 years.

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

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1961

×

1961 NOK value

=

2020 NOK value

Then plug in historical CPI values. The Norwegian CPI was 9.2223974301 in the year 1961 and 124.31724078687125 in 2020:

124.317240786871259.2223974301

×

kr100

=

kr100 in 1961 has the same "purchasing power" or "buying power" as kr1,347.99 in 2020.

To get the total inflation rate for the 59 years between 1961 and 2020, we use the following formula:

CPI in 2020 - CPI in 1961CPI in 1961

×

100

=

Plugging in the values to this equation, we get:

124.31724078687125 - 9.22239743019.2223974301

×

100

=

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

- A dog named Chernushka, frogs, and a guinea pig orbit the Earth in the Soviet flight Sputnik 9.
- Nelson Mandela is acquitted of treason after a four-and-a-half year trial.

You may use the following MLA citation for this page: “Norway Inflation Calculator: World Bank data, 1961-2020 (NOK).” Official Inflation Data, Alioth Finance, 21 Jan. 2020, https://www.officialdata.org/norway/inflation.

Special thanks to QuickChart for providing downloadable chart images.

Cumulative price change | 1,247.99% |

Average inflation rate | 4.51% |

Converted amount (kr100 base) | kr1,347.99 |

Price difference (kr100 base) | kr1,247.99 |

CPI in 1961 | 9.222 |

CPI in 2020 | 124.317 |

Inflation in 1961 | 2.16% |

Inflation in 2020 | 2.76% |