Result: kr494,700 in 2006 → kr659,110.20 in 2020
Value of kr494,700 from 2006 to 2020
kr494,700 in 2006 is equivalent in purchasing power to about kr659,110.20 in 2020, an increase of kr164,410.20 over 14 years. The krone had an average inflation rate of 2.07% per year between 2006 and 2020, producing a cumulative price increase of 33.23%.
This means that prices in 2020 are 1.33 times as high as average prices since 2006, according to the OECD and the World Bank consumer price index for Norway.
The inflation rate in 2006 was 2.33%. The inflation rate in 2020 was 1.29%. The 2020 inflation rate is lower compared to the average inflation rate of 4.93% per year between 2020 and 2024.
⌃
| Cumulative price change | 33.23% |
| Average inflation rate | 2.07% |
| Converted amount kr494,700 base | kr659,110.20 |
| Price difference kr494,700 base | kr164,410.20 |
| CPI in 2006 | 84.200 |
| CPI in 2020 | 112.183 |
| Inflation in 2006 | 2.33% |
| Inflation in 2020 | 1.29% |
| kr494,700 in 2006 | kr659,110.20 in 2020 |
Buying power of kr494,700 in 2006
This chart shows a calculation of buying power equivalence for kr494,700 in 2006 (price index tracking began in 1955).
For example, if you started with kr494,700, you would need to end with kr659,110.20 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When kr494,700 is equivalent to kr659,110.20 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 2006 dollars, the chart below shows how kr494,700 is worth less over 14 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:
This conversion table shows various other 2006 amounts in 2020 kroner, based on the 33.23% change in prices:
| Initial value | Equivalent value |
|---|---|
| kr1 krone in 2006 | kr1.33 kroner in 2020 |
| kr5 kroner in 2006 | kr6.66 kroner in 2020 |
| kr10 kroner in 2006 | kr13.32 kroner in 2020 |
| kr50 kroner in 2006 | kr66.62 kroner in 2020 |
| kr100 kroner in 2006 | kr133.23 kroner in 2020 |
| kr500 kroner in 2006 | kr666.17 kroner in 2020 |
| kr1,000 kroner in 2006 | kr1,332.34 kroner in 2020 |
| kr5,000 kroner in 2006 | kr6,661.72 kroner in 2020 |
| kr10,000 kroner in 2006 | kr13,323.43 kroner in 2020 |
| kr50,000 kroner in 2006 | kr66,617.16 kroner in 2020 |
| kr100,000 kroner in 2006 | kr133,234.32 kroner in 2020 |
| kr500,000 kroner in 2006 | kr666,171.62 kroner in 2020 |
| kr1,000,000 kroner in 2006 | kr1,332,343.23 kroner in 2020 |
How to calculate inflation rate for kr494,700, 2006 to 2020
Our calculations use the following inflation rate formula to calculate the change in value between 2006 and 2020:
CPI in 2020 CPI in 2006
×
2006 NOK value
=
2020 NOK value
Then plug in historical CPI values. The Norwegian CPI was 84.2 in the year 2006 and 112.1833 in 2020:
112.183384.2
×
kr494,700
=
kr659,110.20
kr494,700 in 2006 has the same "purchasing power" or "buying power" as kr659,110.20 in 2020.
To get the total inflation rate for the 14 years between 2006 and 2020, we use the following formula:
CPI in 2020 - CPI in 2006CPI in 2006
×
100
=
Cumulative inflation rate (14 years)
Plugging in the values to this equation, we get:
112.1833 - 84.284.2
×
100
=
33%
Data source & citation
You may use the following MLA citation for this page: “kr494,700 in 2006 → 2020 | Norway Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 May. 2025, https://www.officialdata.org/norway/inflation/2006?amount=494700&endYear=2020.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 33.23% |
| Average inflation rate | 2.07% |
| Converted amount kr494,700 base | kr659,110.20 |
| Price difference kr494,700 base | kr164,410.20 |
| CPI in 2006 | 84.200 |
| CPI in 2020 | 112.183 |
| Inflation in 2006 | 2.33% |
| Inflation in 2020 | 1.29% |
| kr494,700 in 2006 | kr659,110.20 in 2020 |
