A Single Bread Costs 4.6 Million During Germany’s Hyperinflation in 1923
The 1921 – 1924 hyperinflation happened mainly because of three things: the ongoing internal political instability in the country, the occupation of the Ruhr district by foreign troops, and when the Weimar (modern-day Germany) government printed too much banknotes to pay reparations after the 1923 French invasion. Because the banknotes were not matched by Germany’s production, their value fell.
In 1922, a loaf of bread cost 163 marks. By September 1923, during hyperinflation, the price crawled up to 1,500,000 marks and at the peak of hyperinflation, in November 1923, a loaf of bread costs 200,000,000,000 marks.
Cash being prepared for burning
Cash being sold by weight
Kite made of banknotes
Bread price: 4.60 million marks
Cash being transported to pay salaries
German children build a pyramid with stacks of inflated currency
Dress made of cash
Cash used as fuel
1000 billion mark note