• Accounting for inflation is the practice of adjusting financial statements in line with price indices.

  • Figures have been recalculated to reflect current values in a hyperinflationary business environment.
  • International Financial Reporting Standards (IFRS) define hyperinflation as prices, interest rates and wages linked to a price index that increases cumulatively by 100% or more over three years.
  • IFRS and US GAAP have different requirements for accounting for inflation.