A common misconception about inflation is that prices go up, when in reality the value of money (e.g. spending power) goes down. The Economist explains the classic case: In late-1923 Germany, when, because of hyperinflation, “a loaf of bread cost 140 billion marks. Workers were paid twice a day, and given half-hour breaks to rush to the shops with their satchels, suitcases, or wheelbarrow, to buy something, anything, before their paper money halved in value yet again”.
I got a taste, quite literally, of what this phenomenon is like, and I present it as a demonstrative model for your education. Pizza Hut gives so-called “Hut Rewards” points for redeeming menu items. I had accumulated just more than 600. Large pizzas with any toppings are 300 points, so I had gained enough for two free pies.
