Question

Explain 'Hyper Inflation'.

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Answer 1

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HYPER INFLATION :-

Hyperinflation is a rapid and often uncontrollable currency devaluation causing the prices of goods and services to skyrocket in a short period of time. Although there is no precise threshold for hyper-inflation, normally it describes an inflation rate that exceeds 50 percent.

Answer 2

Explanation:

In economics, hyperinflation is very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies, often the US Dollar.