Hyperinflation is a form of economic hardship that occurs when prices for goods and services surge drastically in a short period of time. It often takes place when a country’s central bank adopts an overly-expansionary monetary policy, flooding the market with too much money. This causes prices to rise at a rapid rate and currency values to suddenly decline. Hyperinflation is most commonly seen in developing countries, where it can wipe out people’s savings and severely diminish living standards. To protect against this kind of disaster, nations must take steps to control inflation and ensure sound fiscal policies.