AFAIU from reading about the Plano Real and some other cases, the extra dollars come from the central bank being stuck between a rock and a hard place. If they

AFAIU from reading about the Plano Real and some other cases, the extra dollars come from the central bank being stuck between a rock and a hard place. If they don't print the extra money, then inflation accelerates--a scarcer dollar increases in real value, but non-intuitively this doesn't produce deflation unless you're prepared to hold your ground while the economy and society incinerates in the chaos. EDIT: I think this is one of the primary phenomenons creating the dilemma for the central bank and government: https://en.wikipedia.org/wiki/Inertial_inflation https://en.wikipedia.org/wiki/Inertial_inflation But IIRC from the Brazil case, informal expectations and pricing strategies in the supply chain (from factory to corner store) were at least as important as contracts.