According to Quartz.com, hyperinflation in Venezuela is “forcing” the country to “print hundreds of millions of extra banknotes”.
“The more expensive things get in Venezuela, the more 100 bolivar bills Venezuelans are forced to carry in their pockets.”
High inflation is usually, at a deep level, caused by fiscal failure. For example, countries at war that cannot finance expenditures with taxes or borrowing resort to printing money.
But the proximate cause of the high inflation is the money printing. It’s charmingly naive to see the argument reversed.
The article also refers to 45% annual inflation as “well above much feared hyperinflation levels”.
The common definition of hyperinflation in economics is an inflation rate that is above 50% per month for a sustained period of time. That would be an annualized inflation rate of over 500%.
Venezuela has an inflation problem, which I believe to be caused by a governance problem, but it’s still pretty far away from a hyperinflation episode