Norway Inflation Calculator

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Result: kr100 in 1961 → kr1,337.88 in 2021


Why a krone today is worth only 7% of a krone in 1961

Updated: July 13, 2021

kr100 in 1961 is equivalent in purchasing power to about kr1,337.88 today, an increase of kr1,237.88 over 60 years. The krone had an average inflation rate of 4.42% per year between 1961 and today, producing a cumulative price increase of 1,237.88%.

This means that today's prices are 13.38 times higher than average prices since 1961, according to the World Bank consumer price index for Norway. A krone today only buys 7.47% of what it could buy back then.

The 1961 inflation rate was 2.16%. The current year-over-year inflation rate (2020 to 2021) is now 1.29%1. If this number holds, kr100 today will be equivalent in buying power to kr101.29 next year.


Inflation from 1961 to 2021
Cumulative price change 1,237.88%
Average inflation rate 4.42%
Converted amount (kr100 base) kr1,337.88
Price difference (kr100 base) kr1,237.88
CPI in 1961 9.222
CPI in 2021 123.384
Inflation in 1961 2.16%
Inflation in 2021 1.29%
kr100 in 1961 kr1,337.88 in 2021

NOK Inflation since 1960
Annual Rate, the World Bank CPI
Download

Buying power of kr100 in 1961

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 kr1,337.88 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When kr100 is equivalent to kr1,337.88 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 is worth less over 60 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: 1961-2021
Year Krone Value Inflation Rate
1961 kr100.00 2.16%
1962 kr105.27 5.27%
1963 kr107.88 2.47%
1964 kr114.21 5.87%
1965 kr118.99 4.19%
1966 kr122.86 3.25%
1967 kr128.48 4.58%
1968 kr132.91 3.45%
1969 kr136.85 2.96%
1970 kr151.41 10.64%
1971 kr160.83 6.22%
1972 kr172.50 7.26%
1973 kr185.30 7.42%
1974 kr202.74 9.41%
1975 kr226.44 11.69%
1976 kr247.19 9.16%
1977 kr269.69 9.10%
1978 kr291.70 8.16%
1979 kr304.86 4.51%
1980 kr338.02 10.88%
1981 kr384.14 13.64%
1982 kr427.70 11.34%
1983 kr463.91 8.47%
1984 kr492.76 6.22%
1985 kr520.92 5.71%
1986 kr558.30 7.18%
1987 kr606.97 8.72%
1988 kr647.49 6.68%
1989 kr676.93 4.55%
1990 kr704.89 4.13%
1991 kr729.12 3.44%
1992 kr746.10 2.33%
1993 kr763.17 2.29%
1994 kr773.67 1.38%
1995 kr792.71 2.46%
1996 kr802.71 1.26%
1997 kr823.32 2.57%
1998 kr841.86 2.25%
1999 kr861.78 2.37%
2000 kr888.37 3.09%
2001 kr915.06 3.00%
2002 kr926.84 1.29%
2003 kr949.89 2.49%
2004 kr954.21 0.45%
2005 kr968.83 1.53%
2006 kr991.40 2.33%
2007 kr998.46 0.71%
2008 kr1,035.94 3.75%
2009 kr1,058.71 2.20%
2010 kr1,084.32 2.42%
2011 kr1,098.25 1.28%
2012 kr1,105.90 0.70%
2013 kr1,129.35 2.12%
2014 kr1,152.41 2.04%
2015 kr1,177.43 2.17%
2016 kr1,219.23 3.55%
2017 kr1,242.09 1.88%
2018 kr1,276.43 2.76%
2019 kr1,304.10 2.17%
2020 kr1,320.88 1.29%
2021 kr1,337.88 1.29%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 54 more rows

This conversion table shows various other 1961 amounts in today's kroner, based on the 1,237.88% change in prices:

Conversion: 1961 kroner today
Initial value Equivalent value
kr1 krone in 1961 kr13.38 kroner today
kr5 kroner in 1961 kr66.89 kroner today
kr10 kroner in 1961 kr133.79 kroner today
kr50 kroner in 1961 kr668.94 kroner today
kr100 kroner in 1961 kr1,337.88 kroner today
kr500 kroner in 1961 kr6,689.38 kroner today
kr1,000 kroner in 1961 kr13,378.77 kroner today
kr5,000 kroner in 1961 kr66,893.84 kroner today
kr10,000 kroner in 1961 kr133,787.67 kroner today
kr50,000 kroner in 1961 kr668,938.37 kroner today
kr100,000 kroner in 1961 kr1,337,876.74 kroner today
kr500,000 kroner in 1961 kr6,689,383.68 kroner today
kr1,000,000 kroner in 1961 kr13,378,767.35 kroner today

How to Calculate Inflation Rate for kr100 since 1961

Our calculations use the following inflation rate formula to calculate the change in value between 1961 and today:

CPI today CPI in 1961
×
1961 NOK value
=
Today's value

Then plug in historical CPI values. The Norwegian CPI was 9.2223974301 in the year 1961 and 123.38430965692672 in 2021:

123.384309656926729.2223974301
×
kr100
=
kr1,337.88

kr100 in 1961 has the same "purchasing power" or "buying power" as kr1,337.88 in 2021.

To get the total inflation rate for the 60 years between 1961 and 2021, we use the following formula:

CPI in 2021 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (60 years)

Plugging in the values to this equation, we get:

123.38430965692672 - 9.22239743019.2223974301
×
100
=
1,238%

News headlines from 1961

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.

Data Source & Citation

You may use the following MLA citation for this page: “Norway Inflation Calculator: World Bank data, 1961-2021 (NOK).” Official Inflation Data, Alioth Finance, 1 Aug. 2021, 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 1961 to 2021
Cumulative price change 1,237.88%
Average inflation rate 4.42%
Converted amount (kr100 base) kr1,337.88
Price difference (kr100 base) kr1,237.88
CPI in 1961 9.222
CPI in 2021 123.384
Inflation in 1961 2.16%
Inflation in 2021 1.29%
kr100 in 1961 kr1,337.88 in 2021