This happened recently in Zimbabwe, in Africa, and in Venezuela, in South America, when these countries printed more money to try to make their economies grow. As the printing presses sped up, prices rose faster, until these countries started to suffer from something called “hyperinflation”.

The zinc 1 Reichspfennig coin was minted by Nazi Germany between 1940 and 1945 during World War II, replacing the bronze version. It is worth 1/100 or . 01 of a Reichsmark.

The new currency was backed by the land used for agriculture and business. This was mortgaged (Rente is a technical term for mortgage in German) to the tune of 3.2 billion Goldmarks, based on the 1913 wealth charge called Wehrbeitrag which had helped fund the German war effort from 1914–1918.

In 1914, before World War I, a loaf of bread in Germany cost the equivalent of 13 cents. Two years later it was 19 cents, and by 1919, after the war, that same loaf was 26 cents – doubling the prewar price in five years. Bad, yes — but not alarming. But one year later a German loaf of bread cost $1.20.

Living Costs & Expenses in Germany

Essentially, all of the ingredients that went into creating Germany’s hyperinflation can be grouped into three categories: the excessive printing of paper money; the inability of the Weimar government to repay debts and reparations incurred from World War I; and political problems, both domestic and foreign.

You will need around 861 euros a month to cover your living expenses in Germany as of 2021. On average, to cover your living expenses in Germany you will need around 861 euros per month (around $1,002 US dollars) or 10,332 euros per year (around $12,024 US dollars).