What is a price level? According to Wikipedia, “The general price level is a hypothetical measure of overall prices for some set of goods and services, in an economy or monetary union during a given interval, normalized relative to some base set. Typically, the general price level is approximated with a daily price index, normally the Daily CPI.” Notice this definition stated that the price level is “hypothetical”, saying that it is not real. There is no price level. So, how could anyone prove that monetary inflation raises prices if there is no price level? It is not a set price level. Then people would pay the same amount for the same thing. But there is no set price level, it keeps rising, and that is because of inflation.