Norway Inflation Calculator

kr

Result: kr100 in 1956 → kr1,586.26 in 2022


The Norwegian Krone has lost 94% its value since 1956

Updated: June 10, 2022

kr100 in 1956 is equivalent in purchasing power to about kr1,586.26 today, an increase of kr1,486.26 over 66 years. The krone had an average inflation rate of 4.28% per year between 1956 and today, producing a cumulative price increase of 1,486.26%.

This means that today's prices are 15.86 times higher than average prices since 1956, according to the OECD and the World Bank consumer price index for Norway. A krone today only buys 6.304% of what it could buy back then.

The inflation rate in 1956 was 3.80%. The current inflation rate compared to last year is now 5.39%. If this number holds, kr100 today will be equivalent in buying power to kr105.39 next year.


Inflation from 1956 to 2022
Cumulative price change 1,486.26%
Average inflation rate 4.28%
Converted amount (kr100 base) kr1,586.26
Price difference (kr100 base) kr1,486.26
CPI in 1956 7.496
CPI in 2022 118.900
Inflation in 1956 3.80%
Inflation in 2022 5.39%
kr100 in 1956 kr1,586.26 in 2022

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

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 kr1,586.26 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When kr100 is equivalent to kr1,586.26 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 66 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: 1956-2022
Year Krone Value Inflation Rate
1956 kr100.00 3.80%
1957 kr102.87 2.87%
1958 kr108.05 5.03%
1959 kr110.52 2.29%
1960 kr110.92 0.36%
1961 kr113.31 2.16%
1962 kr119.28 5.27%
1963 kr122.23 2.47%
1964 kr129.40 5.87%
1965 kr134.82 4.19%
1966 kr139.20 3.25%
1967 kr145.58 4.58%
1968 kr150.60 3.45%
1969 kr155.06 2.96%
1970 kr171.55 10.64%
1971 kr182.23 6.22%
1972 kr195.46 7.26%
1973 kr209.96 7.42%
1974 kr229.72 9.41%
1975 kr256.57 11.69%
1976 kr280.08 9.16%
1977 kr305.58 9.10%
1978 kr330.52 8.16%
1979 kr345.42 4.51%
1980 kr383.00 10.88%
1981 kr435.25 13.64%
1982 kr484.62 11.34%
1983 kr525.64 8.47%
1984 kr558.33 6.22%
1985 kr590.23 5.71%
1986 kr632.59 7.18%
1987 kr687.73 8.72%
1988 kr733.65 6.68%
1989 kr767.00 4.55%
1990 kr798.69 4.13%
1991 kr826.15 3.44%
1992 kr845.38 2.33%
1993 kr864.73 2.29%
1994 kr876.62 1.38%
1995 kr898.19 2.46%
1996 kr909.53 1.26%
1997 kr932.88 2.57%
1998 kr953.89 2.25%
1999 kr976.46 2.37%
2000 kr1,006.59 3.09%
2001 kr1,036.83 3.00%
2002 kr1,050.17 1.29%
2003 kr1,076.29 2.49%
2004 kr1,081.19 0.45%
2005 kr1,097.75 1.53%
2006 kr1,123.32 2.33%
2007 kr1,131.33 0.71%
2008 kr1,173.79 3.75%
2009 kr1,199.59 2.20%
2010 kr1,228.60 2.42%
2011 kr1,244.39 1.28%
2012 kr1,253.06 0.70%
2013 kr1,279.63 2.12%
2014 kr1,305.76 2.04%
2015 kr1,334.11 2.17%
2016 kr1,381.47 3.55%
2017 kr1,407.38 1.88%
2018 kr1,446.29 2.76%
2019 kr1,477.64 2.17%
2020 kr1,496.65 1.29%
2021 kr1,548.79 3.48%
2022 kr1,586.26 2.42%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 60 more rows

This conversion table shows various other 1956 amounts in today's kroner, based on the 1,486.26% change in prices:

Conversion: 1956 kroner today
Initial value Equivalent value
kr1 krone in 1956 kr15.86 kroner today
kr5 kroner in 1956 kr79.31 kroner today
kr10 kroner in 1956 kr158.63 kroner today
kr50 kroner in 1956 kr793.13 kroner today
kr100 kroner in 1956 kr1,586.26 kroner today
kr500 kroner in 1956 kr7,931.28 kroner today
kr1,000 kroner in 1956 kr15,862.57 kroner today
kr5,000 kroner in 1956 kr79,312.85 kroner today
kr10,000 kroner in 1956 kr158,625.70 kroner today
kr50,000 kroner in 1956 kr793,128.48 kroner today
kr100,000 kroner in 1956 kr1,586,256.96 kroner today
kr500,000 kroner in 1956 kr7,931,284.79 kroner today
kr1,000,000 kroner in 1956 kr15,862,569.58 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 118.9 in 2022:

118.97.495633
×
kr100
=
kr1,586.26

kr100 in 1956 has the same "purchasing power" or "buying power" as kr1,586.26 in 2022.

To get the total inflation rate for the 66 years between 1956 and 2022, we use the following formula:

CPI in 2022 - CPI in 1956CPI in 1956
×
100
=
Cumulative inflation rate (66 years)

Plugging in the values to this equation, we get:

118.9 - 7.4956337.495633
×
100
=
1,486%

Data source & citation

You may use the following MLA citation for this page: “Norway Inflation Calculator: World Bank data, 1956-2022 (NOK).” Official Inflation Data, Alioth Finance, 3 Jul. 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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Inflation from 1956 to 2022
Cumulative price change 1,486.26%
Average inflation rate 4.28%
Converted amount (kr100 base) kr1,586.26
Price difference (kr100 base) kr1,486.26
CPI in 1956 7.496
CPI in 2022 118.900
Inflation in 1956 3.80%
Inflation in 2022 5.39%
kr100 in 1956 kr1,586.26 in 2022