galloping inflation (2)

A side from hyperinflation of the German 1920-1923 type ,we do see in countries like Chile and Brazil a state of chronic inflation-say, at the rate of 20 to 90 percent per year-that goes on decade after decade after decade . Somehow the people learn to live on such a merry-go-round . They hoard goods; buy houses ; never ,never lend money at ordinary interest rates ; etc. Sometimes , as in Brazil , the economy manages to show real growth ;too often , as in Argentina and Chile , growth suffers.
Fortunately , there are few cases of German-type hyperinflation except during war or in the backwash of war and revolution . the primary fear today for a mixed economy like America is of a steady upward creep in prices . will such a creep inevitably become a tort ? a tort become a canter ? a canter become a gallop? few economic experts regard such a development as inevitable . but they still have reason to be concerned with too fast and steady a creep of prices- as we will soon see .