Question

what is hyperinflation​

Answer 1

Answer:

Interesting question, suppose you are going to buy a loaf of bread and its cost is 2 lakh rupees, 1 egg cost 50,000  rupees...how can it happen.

Explanation:

To understand the hyperinflation, first we need to understand the term 'inflation'. Inflation is a way to measure the rate, how prices increases. If you look back 5-7 years ago, milk was 25 rupees per liter, now it is 52 per liter, inflation tells us that prices tend to rise, and value of rupee decreases over a time.

Now, the term Hyperinflation, it is an economic condition in which inflation is  increasing at extremely high rate. There are numerous example in the history where nation have observed such situation, read about Zimbabwe where people were having '1 billion' rupee note in their pocket to buy vegetables.

Answer 2

Answer:

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.

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