Why does hyperinflation happen?

Hyperinflation occurs when there is an excessive increase in the supply of money within an economy, often driven by government actions such as printing more currency to cover debts or fund expenditures without a corresponding increase in goods and services. This leads to a rapid decline in the purchasing power of money, causing prices to soar uncontrollably. Factors such as loss of confidence in the currency, political instability, and supply chain disruptions can exacerbate the situation. Ultimately, hyperinflation erodes savings and disrupts economic stability, leading to severe societal impacts.