Greece, 1944, daily inflation of 18%
Greece’s economy was devastated by the Nazi’s occupation during World War II.As a result, the collapse in the agriculture entailed serious food shortages. Besides, a relief of tax burden was also to blame for high inflation. Even though it was not as galloping as inflation in post-war Hungary or Germany, Greece needed a longer time to tame it and achieve some stability in the ailing economy.
The Greeks found a solution to spend drahmas within 4 hours. Before, the natives used to keep a drahma banknote for up to 40 days. According to the hyperinflation chart composed by Steve Hanke and Nicholas Krus, consumer prices doubled every 4.3 days. The highest rate on month, recorded in October 1944, was estimated at 13,800%.