So, I guess, in any system of fiat money, you have to base your comparison of what things cost by asking : “What percentage of my income must I spend this item?” IF that percentage goes up, then its inflation. A dollar is meaningless as a standard without something to of worth to compare it to, be it gold, Labor, wages, GDP, or donut holes.
I’ve always heard that gold is nearly static in it’s value.
An ounce of gold today would buy the same amount of coffee, wheat, salt, pepper, and gun powder as when it was $20 an ounce. Hmmm at nearly $1000 an ounce, maybe thats not true anymore......