Inflation is the gradual and general increase in prices of goods and services over a period of time. It occurs when there is more money in circulation than the amount of goods and services available, resulting in a decrease in purchasing power for any given currency. This can be caused by excessive printing of money or an increase in demand for goods and services.

Hyperinflation, on the other hand, is an extreme form of inflation that occurs when prices grow rapidly over a short period of time. It usually follows an economic crisis, such as the collapse of a government or large financial institution. Hyperinflation can be caused by an oversupply of currency or rapid changes in national debt. It results in dramatic decreases in purchasing power for any given currency and takes much longer to recover from than regular inflation.