Word Origin & History
"excessive or misleading publicity or advertising," 1967, Amer.Eng. (the verb is attested from 1937), probably in part a back-formation of hyperbole, but also from underworld slang sense "swindle by overcharging or short-changing" (1926), a back-formation of hyper "short-change con man" (1914), from
prefix hyper- meaning "over, to excess." Also possibly influenced by drug addicts' slang hype, 1913 shortening of hypodermic needle. In early 18c., hyp "morbid depression of the spirits" was colloquial for hypochondria (usually as the hyp or the hyps).