High inflation makes it hard for firms and individuals to distinguish changes in the relative prices of particular items from general changes in the average price level, so price signals become blurred.

ECONOMIST: Should central banks try to target asset-price inflation?

Yet since inflation is by definition a rise in the general price level, not one set of prices, it's never as orderly as proponents of inflationary policies like to claim.

WSJ: Review & Outlook: Japan Discovers QE Has Risks

When countries devalue during full utilisation of resources, the results are a general increase in the price level.

ECONOMIST: Letters