The rapid growth in the rate of inflation in which money loses its value to the point wherein altern...........

Economic Affairs Inflation

The rapid growth in the rate of inflation in which money loses its value to the point wherein alternative medium of exchange such as barter or foreign currency are commonly used is called:

1. Galloping inflation

2. Hyper inflation

3. Creeping inflation

Select the answer from the codes given below:

Only 1

Only 2

Only 3

None of above

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Explanation:

Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.