Does not need to even out in long term. Inflation can happen even in Gold Backed currency as long as there is productivity growth - either increase in population, or increase in productivity of people or both. This is good because the inflation tracks the increased standard of living so an average person actually does not hurt due to this kind of inflation.

However there is nothing wrong with a society that has no productivity growth, has a stable population and lives without progress as long as they are mostly self sufficient.