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The rapid out-of-control rise in prices is known as hyperinflation, characterized by extremely high and typically accelerating inflation rates, often exceeding 50% per month. Unlike general and gradual inflation, which reflects a steady increase in prices due to normal economic factors, hyperinflation leads to a loss of confidence in the currency, resulting in consumers and businesses rapidly adjusting prices to keep up with the devaluing currency. This phenomenon can disrupt economies, erode savings, and diminish purchasing power drastically.

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2mo ago

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