The inflation peaked in 1998 during the Asian financial crisis, with over 58%, causing the raise in poverty level as bad as the 1960s crisis.

In the years before it began, inflation peaked at more than 5,000 percent a year.

Transition to market economy in the early 1990s deteriorated the value of the forint, inflation peaked at 35% in 1991.

Unemployment remained well in excess of 1,000,000, inflation peaked at 24% in 1975, and the national debt was increasing.

European inflation peaked at 3.4 percent in May, mostly because of rising oil and food prices, but it has now declined to about 2.4 percent.

In the 1970s inflation averaged 13% a year and peaked at 25% in 1975.

After eight currency crises since the early 1970s, inflation peaked in 1989, reaching 5,000% that year.

In 1992, inflation peaked at 1,500 percent and was still as high as 48 percent in 1996.

"We think inflation will peak next June at 40 percent a month," Mr. Decotelli said.

Apart from bursting bubbles, the Bank of Japan also wants to be sure inflation has peaked.