In contrast, a central bank that targets the price level wants to make up any lost ground on prices. It would seek to raise inflation to 3% in the second year to get to a target of 104.

相比之下，把价格水平作为目标的中央银行为了弥补差额，在下一年它将力图把通胀率提高到3%以使价格水平达到104。