Irkholm, a South American nation, experiences an economic downturn that leads to an increase in average prices across the country. The situation becomes more serious when average prices increase more than 50% per month. In the given scenario, Irkholm is experiencing _____.

Question

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Hyperinflation is characterized by extremely rapid or out of control inflation, often exceeding 50% per month, which is the situation described in the scenario.

Irkholm, a South American Nation, Experiences an Economic Downturn That