what does 7.9% inflation mean? Is that the percentage the currency loses during one month?
In: 6
A good yard stick which people can understand with inflation is how long it would take for prices to double.
At 2.5% per year it would take 28 years for prices to double
At 20.4% prices would double approx every 4 years
The highest recorded inflation was 29500% during Germanys Weimar Republic meaning prices doubled every 33 hours.
https://metinmediamath.wordpress.com/2013/11/11/inflation-how-long-does-it-take-for-prices-to-double/
Latest Answers