Hyperinflation is a phenomenon in which the average price of goods and services increases rapidly, causing a loss of value. It is typically seen in countries with unstable monetary policies.
Hyperinflation occurs if inflation is not controlled. One standard definition of hyperinflation is when inflation is more than 50 percent per month. In some extreme cases, hyperinflation can be so intense that prices double within days. It is also known as Runaway inflation (as it is set loose and run away madly).
Once it starts, it tends to spiral even further out of control. If inflation is a general price increase, hyperinflation is an excessive, out-of-control increase in available prices. For example, your weekly food basket that costs Rs 1,000 would suddenly cost Rs 2,000 the next week, then Rs 4,000 the week after, and so on.