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Transcript of INFLATION
EXAMPLES OF HYPERINFLATION
Germany after WWI
The Rate of Inflation changes from year to year
In 2015, the US inflation rate was 0.5%!
"Good" inflation is between 2-3%
In July 2008, the inflation rate in Zimbabwe was 231,150,888.87%.
Zimbabwe abandoned their currency in 2009, and have used other nations' currencies ever since...
They plan on creating a new, original currency of their own in the near future, but they haven't yet.
Germany's inflation didn't stop until Hitler took control and began to improve the economy
...and in 1938 he was chosen as "Man of the Year" by Time Magazine
People saw him as a hero!
When inflation is bad enough, it really makes life
Inflation more than 10-20% is really bad...
They basically stopped counting at that point...but in October 2008 it was 89,700,000,000,000,000,000,000%
(89.7 sextillion %) ...which is just silly.
...US$1 was equivalent to Z$2,621,984,228
(...CPI = 237.3)
What causes it?
Inflation's Closest Relatives:
: Prices rise in the midst of economic trouble (recession, low employment, etc.)
Often caused by supply shock. Ex--1970s: Oil Crisis
: When prices fall.
Current gas prices?
2008/meltdown? = Almost!
(Money Mr. V. got as change at a restaurant in July 2016)
This guy tried to sell me a
Z$1billion bill for US$10...