One of the most severe hyperinflation in the world recorded in the FRY

Business Insider published a list of the nine largest hyperinflation in the world in the last century, and the former Federal Republic of Yugoslavia was in third place.

In the text entitled How inflation in nine countries exploded into hyperinflation, it is stated that one of those countries was the Federal Republic of Yugoslavia in the period from 1992 to 1994.

In the last century, there were 55 cases of hyperinflation, a phenomenon in the economy when inflation is "out of control", that is, when prices rise rapidly and the currency loses value.

Even some of the world's largest economies today, such as China, Germany and France, have fought battles with hyperinflation.

In 2012, economists Steve Hanke and Nicholas Krus compiled a collection of cases of hyperinflation in the world, and Business Insider singled out nine of the most severe.

In first place is Hungary, where in the period from August 1945 to July 1946, the daily inflation rate was 207 percent, and prices doubled every 15 hours.

Hungary was economically destroyed by the Second World War, especially its capital Budapest, which was a war zone. Even before that, Hungary was involved in increased production to support Germany's war intentions, but Germany never paid for those goods.

When the peace treaty with the Allies was signed in 1945, Hungary had to pay the Russians huge reparations that amounted to 25 to 50 percent of the Hungarian budget during this hyperinflation.

Hungarian bankers warned that printing money to pay the bills would not work, but the Russians, who ran the commission in charge of the country's monetary policy, ignored all the warnings. Some conclude that this hyperinflation was caused for political purposes, to destroy the middle class of society.

In Zimbabwe, from March 2007 to November 2008, the daily inflation rate was 98 percent, and prices doubled every 25 hours.

After the Socialist Federal Republic of Yugoslavia disintegrated in 1992, the Federal Republic of Yugoslavia was created, which retained the old currency - the dinar. Inflation occurred after an embargo was placed on exports due to the war. The inflation rate was 65 percent, and prices were doubling every 34 hours

After the Socialist Federal Republic of Yugoslavia disintegrated in 1992, the Federal Republic of Yugoslavia was created, which retained the old currency - the dinar. Inflation occurred after an embargo was placed on exports due to the war. The inflation rate was 65 percent, and prices were doubling every 34 hours.

"Petrović, Bogetić, and Vujošević (1998) explain that the newly formed Federal Republic of Yugoslavia retained much of the bureaucracy that existed before the split, contributing to the federal deficit. In an attempt to overcome this and other shortcomings, the central bank lost control over money creation and caused hyperinflation," according to Business Insider.

Weimar Germany from 1922 to 1923, Greece from 1941 to 1945, China from 1947 to 1949, then Peru in 1990, France from 1975 to 1976 and Nicaragua from 1986 to 1991 also felt the great consequences of inflation.