Tobold argues that this inflation is, in effect, not real. His thesis is that time is the real currency of MMOs, not gold or ISK or whatever. And with respect to time, most in-game economies undergo deflation, not inflation. While it may cost me twice as much gold to buy a stack of Netherweave now as compared to when the Burning Crusade launched, I make gold five times as fast, so in fact it takes me less than half as long to get the Netherweave as it used to. Low-level characters are better off as well, because there is now more of a market for what they have to sell, so they'll have more gold to put towards items and training.