Question

When prices increases in such a speed that the value of money falls drastically is called as?

Answer 1

inflation..............

Answer 2

Answer is Hyperinflation.

More details on the topic:

In Economics, Inflation is nothing but the increase in the price of goods. So, the value of money goes down.

When price of the goods and products rise out of control, then it results in hyperinflation, making the value of money fall drastically.

Hope it helps. Thank You!