Coming to terms: Hyperinflation
Some countries have experienced hyperinflation where prices can double in a few days — or hours!
Q: What is hyperinflation?
A: Americans are used to ordinary inflation, with our prices tending to rise by around 2 to 4 percent each year. Some countries have experienced hyperinflation, though, where prices can double in a few days — or hours!
Just a few years ago, for example, Zimbabwe experienced the chaos of hyperinflation, with prices doubling in the time it might take you to read this newspaper page.
You might buy a loaf of bread with a bill that sports 12 zeros on it. A month later, you’d need to add several more zeros.