Let us merely discuss the question, what consequences would necessarily follow if, ceteris paribus, with an increasing quantity of money, prices were restricted to the old level by official compulsion? An increase in the quantity of money leads to the appearance in the market of new desire to purchase, which had previously not existed; 'new purchasing power', it is usual to say, has been created. If the new would-be purchasers compete with those that are already in the market, then, so long as it is not permissible to raise prices, only part of the total purchasing power can be exercised. Ludwig Von Mises
About This Quote

We must discuss the effects of an increase of money on prices. On the whole, it is clear that this process of increasing the quantity of money leads to increased prices. If the increase takes place gradually, then these prices will rise, not in proportion to the increase in the money supply, but in inverse proportion. The more rapidly the increase takes place, the higher will be the rate of price rise. However, it is also clear that there may be some special circumstances in which an increase in the quantity of money leads to a decrease in the relative price of the good concerned.

Source: The Theory Of Money And Credit

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