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Hyperinflation is an extremely high and typically accelerating rate of inflation, often exceeding 50% per month. It occurs when a country experiences a rapid and uncontrolled increase in the money supply, leading to a steep decline in the value of its currency. This results in skyrocketing prices for goods and services, eroding purchasing power and creating economic instability. Hyperinflation can lead to a loss of confidence in the currency, prompting people to resort to barter or alternative currencies.
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