The long-term price level should be falling due to productivity growth. The fiat money monopolists' grand concern about how far inflation is above zero is silly. Keeping the price level flat is still a massive form of theft out of the pockets of every net positive holder of the state-mandated currency (other than some of the first recipients of new infusions). This is because the price level not only should not be rising, it should not be flat either. Indeed, it should be falling, as it did in terms of gold before the replacement of real money with paper monopoly tickets issued by state cronies.
The creation and near universal spread of the image that as long as inflation is not too far above zero, everything is fine, is a massive delusion, which masks a truly mind-boggling embezzlement racket. Even if central banks did manage zero inflation, the fact that prices were not falling with ongoing economic progress would indicate the ongoing degree of currency depreciation relative to the progress of the real economy.
What is "currency depreciation?" In the case of fiat money systems, it is embezzlement of the savings of every single person all the time everywhere. Rather than steal particular pieces of money, treasuries, central banks, and their cronies steal portions of the value of all the money that exists (leaving it all where it is in cash and deposits), and divert it into their very own newly printed notes and newly infused magical deposit credits for Wall Street. No mere private bandit could ever dream of running and maintaining such a crime syndicate.
What's the defense? A couple of possibilities. Own tangible assets (buildings, metals) and minimize holdings of fiat currency. Another—commonly adopted in the US, but not necessarily recommended—is to be in debt. Currency depreciation harms those with positive net cash and benefits those with negative net cash (the devaluation of a negative creates a double-negative and therefore a positive). No wonder there are so many in debt. Saving in fiat money is punished.