Now there was inflation with regard to a basket of the Consumer Price Index is not just the price of gold; it's the price of many things but the there would be inflation or deflation as the relative price of gold changed.

现在，就一组物品来说，是存在通货膨胀的,消费者价格指数并不仅仅是金子的价格；,它是很多东西的价格，但是,当金子的相对价格变化时,通货膨胀或通货紧缩就会发生。

金融市场课程节选 : 耶鲁公开课