hyper-inflation

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hyper-inflation This refers to annual rates of increase in the general price level that are above some arbitrarily defined high threshold, thought to imply a loss of monetary control over the economy. It usually requires drastic policy measures, such as currency substitution and a severe curbing of budget deficits, with high social and political costs. The phenomenon is particularly associated with parts of the Third World such as Brazil and Mexico. See also INFLATION.

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