Elliott calls it “hyper inflation”

Oconee County Councilman John Elliott, after a trip to the supermarket and learning what he had to pay, leads him to believe the economy is in a period of “hyper inflation”.  One definition of hyperinflation  is a high and accelerating inflation that erodes the real value of the local currency, as the prices of all goods increase.  According to ABC NEWS, the president of the Federal Reserve Bank of Cleveland thinks another increase in interest rates is needed to curb inflation.