Table :

TABLE 12.2 Selected Episodes of Hyperinflation

Nation

Period

Cumulative Inflation Rate (%)

Maximum Inflation Rate on a Monthly Basis (%)

America

1777–1780

2,702

1,342

Bolivia

1984–1985

97,282

196

Peru

1987–1992

17,991,287

1,031

Yugoslavia

1993–1994

1.6 × 109

5 × 1015

Nicaragua

1986–1991

1.2 × 1010

261

Greece

1941–1944

1.60 × 1011

8.5 × 109

Germany

1919–1923

0.5 × 1012

3,250,000

Zimbabwe

2001–2008

8.53 × 1023

7.96 × 1010

Hungary

1945–1946

1.3 × 1024

4.19 × 1016

Source: Fisher, Stanley, Ratna Sahay, and Carlos A. Vegh. 2002. Modern hyper- and high inflations. Journal of Economic Literature, American Economic Association 40(3): 837–880. Anderson, Robert B., William A. Bomberger, and Gail E. Makinen. 1988. The demand for money, the “reform effect,” and the money supply process in hyperinflation: The evidence from Greece and Hungary reexamined.” Journal of Money, Credit and Banking 20: 653–672, http://en.wikipedia.org/wiki/Hyperinflation, http://www.sjsu.edu/faculty/watkins/hyper.htm, and http://www.cato.org/zimbabwe.