Explain the term hyper inflation.
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Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.
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Hyper inflation is the state of spiral rise in the prices of goods. It is a state in which the value of money is falling because the prices are rising.
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