Question 2 When an economy ceases to be hyperinflationary, what should be done to the carrying values of the assets and liabilities? The carrying values continue to be restated, because once an economy is considered hyperinflationary, it is subject to IAS 29. The carrying values are restated, but left at the amounts at which they were stated when the standard was first applied. The carrying values are not restated but left at the amounts at which they were stated when the standard was last applied. The carrying values are restated and changed back to the amounts at which they were previously stated