Result: kr100 in 1961 → kr1,195.37 in 2020
Why a krona today is worth only 8% of a krona in 1961
Updated: September 11, 2020According to the World Bank consumer price index for Sweden, today's prices in 2020 are 1,095.37% higher than average prices since 1961. This means that a krona today only buys 8.37% of what it could buy in 1961. The Swedish Krona experienced an average inflation rate of 4.29% per year during this period, causing the real value of a krona to decrease.
In other words, kr100 in 1961 is equivalent in purchasing power to about kr1,195.37 in 2020, a difference of kr1,095.37 over 59 years. This inflation data is collected by the World Bank and is specific to Sweden.
The 1961 inflation rate was 2.16%. The current year-over-year inflation rate (2019 to 2020) is now 1.78%1. If this number holds, kr100 today will be equivalent in buying power to kr101.78 next year.
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| Cumulative price change | 1,095.37% |
| Average inflation rate | 4.29% |
| Converted amount (kr100 base) | kr1,195.37 |
| Price difference (kr100 base) | kr1,095.37 |
| CPI in 1961 | 9.410 |
| CPI in 2020 | 112.481 |
| Inflation in 1961 | 2.16% |
| Inflation in 2020 | 1.78% |
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 kr1,195.37 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When kr100 is equivalent to kr1,195.37 over time, that means that the "real value" of a single Swedish krona decreases over time. In other words, a krona will pay for fewer items at the store.
This effect explains how inflation erodes the value of a krona over time. By calculating the value in 1961 dollars, the chart below shows how kr100 is worth less over 59 years.
According to the World Bank, each of these SEK amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1961 amounts in today's kronor, based on the 1,095.37% change in prices:
| Initial value | Equivalent value |
|---|---|
| kr1 krona in 1961 | kr11.95 kronor today |
| kr5 kronor in 1961 | kr59.77 kronor today |
| kr10 kronor in 1961 | kr119.54 kronor today |
| kr50 kronor in 1961 | kr597.69 kronor today |
| kr100 kronor in 1961 | kr1,195.37 kronor today |
| kr500 kronor in 1961 | kr5,976.87 kronor today |
| kr1,000 kronor in 1961 | kr11,953.74 kronor today |
| kr5,000 kronor in 1961 | kr59,768.69 kronor today |
| kr10,000 kronor in 1961 | kr119,537.37 kronor today |
| kr50,000 kronor in 1961 | kr597,686.86 kronor today |
| kr100,000 kronor in 1961 | kr1,195,373.72 kronor today |
| kr500,000 kronor in 1961 | kr5,976,868.62 kronor today |
| kr1,000,000 kronor in 1961 | kr11,953,737.24 kronor 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 SEK value
=
Today's value
Then plug in historical CPI values. The Swedish CPI was 9.4096824229 in the year 1961 and 112.48087116868662 in 2020:
112.480871168686629.4096824229
×
kr100
=
kr1,195.37
kr100 in 1961 has the same "purchasing power" or "buying power" as kr1,195.37 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
=
Cumulative inflation rate (59 years)
Plugging in the values to this equation, we get:
112.48087116868662 - 9.40968242299.4096824229
×
100
=
1,095%
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: “Sweden Inflation Calculator: World Bank data, 1961-2020 (SEK).” Official Inflation Data, Alioth Finance, 17 Sep. 2020, https://www.officialdata.org/sweden/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 1,095.37% |
| Average inflation rate | 4.29% |
| Converted amount (kr100 base) | kr1,195.37 |
| Price difference (kr100 base) | kr1,095.37 |
| CPI in 1961 | 9.410 |
| CPI in 2020 | 112.481 |
| Inflation in 1961 | 2.16% |
| Inflation in 2020 | 1.78% |