Which is the best definition of hyperinflation?
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an exponential increase in the price of goods and services
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The raise in price of goods and services by more than 50 percentage is known as hyperinflation. For example: There will be two different price on a product with in a single day. Usually the praise will keep increasing rather than decreasing.
Increase in Money supply and demand-pull inflation are the two main reason for the hyperinflation.
Hyperinflation will bring drastic consequences like people will hoard perishable goods like Milk, Egg, bread and more. It will lead to an ultimate destination that saving money is not a worthy idea among people and people stop depositing money.
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