In a trivial sense, this relationship is obviously true: since the absolute level of prices is defined in relation to a numéraire, without money, we cannot even talk about inflation. In a pure barter economy, there are only relative prices.
The accumulation of public debt was even faster in the Easter Caribbean, moving from  4  BIS central bankers’ speeches  just over 60 percent of GDP in 1998 to a high of almost 120 percent of GDP in 2004, before falling to 95 percent of GDP in 2012. Generally, a public debt ratio of over 50 percent of GDP is considered high.