GLOSSARY

Rapid and excessive inflation within an economy. Where normal inflation is measured over months, hyperinflation is measured exponentially in daily movements as high as 5% to 10%, and occurs in instances where inflation is greater than 50% over one month. Typically, hyperinflation does not occur in developed countries, but has occurred on many occasions in countries such as China, Russia, Argentina, Angola and Zimbabwe. In South Africa, the inflation rate is measured using the Consumer Price Index (CPI) and is typically between 5% and 8% per annum. In Angola, inflation for 2017 was 29.84% and 2018 it was 19.63%. Zimbabwe is probably the best example of this type of inflation, where hyperinflation went to millions of percent and eventually the currency collapsed. In 2021, the official inflation rate was approximately 98,5%.