hyperinflation in early soviet russia connotes a seven-year period of uncontrollable spiraling inflation in the early soviet union, running from the earliest days of the bolshevik revolution in november 1917 to the reestablishment of the gold standard with the introduction of the chervonets as part of the new economic policy. the inflationary crisis effectively ended in march 1924 with the introduction of the so-called "gold ruble" as the country's standard currency.