Explanation: Galloping inflation is a ‘very high inflation’ running in the range of double-digit or triple digit (i.e., 20 per cent, 100 per cent or 200 per cent in a year).

• In the decades of 1970s and 1980s, many Latin American countries such as Argentina, Chile and Brazil had such rates of inflation—in the range of 50 to 700 per cent.
• The Russian economy did show such inflation after the disintegration of the ex-USSR in the late 1980s.

Source: Ramesh Singh