Hyperinflation

Hyperinflation is a form of economic inflation which has a very high percentage of inflation. Prices double or triple in cost while value remains the same or slightly lessens.

Hyperinflation is going into a store every day to buy the same item and each time having to ask how much it costs. Under hyperinflation such as that experienced in South America, businesses have to anticipate, for example, a monthly increase of 18% or 20% for raw materials, and they end up having to price that increase to their product ahead of time.