Hyperinflation

The hyperinflation is a extremely high Inflation escaping any control. It involves a strong economic recession in general. Phillip Cagan defines it in 1956 as one period during which the level of inflation is maintained above 50% per month.

Historical cases

Hyperinflations were in particular observed:
  • under the Weimar Republic in Germany, after the First World War, where a which gallops inflation was transformed into hyperinflation as from January 1923. It will end on November 15th, 1923 by decision of the State with the re-establishment of the Parité to the dollar of the mark of pre-war period. During these months, the prices increased approximately 3,25 × 106 % per month (the prices doubled every 49 hours).
  • in Hungary at the end of the Second world war in 1945 - 1946. It is the most important hyperinflation in the world with 4,19 × 1016 % per month (the prices doubled every 15 hours). The forint was reintroduced at August 1st, 1946 to replace the pengő, at the rate of 1 forint = 4×1029 % pengő.
  • in Yugoslavia in 1993 when the new dinars was worth 950 billion Deutche Mark, followed by a creation of the new new dinars, then super dinars in 1994. In January 1994 inflation was of 313000000% in one month.
  • with the Brazil during the Years 1980
  • with the Zimbabwe to date (inflation in 2006 was there of 1281%)
  • in Democratic republic of Congo during the Années 1990
  • with the Nicaragua between 1988 and 1989 when inflation was of 36000%

See too

Reference

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