All by itself, no. Policy errors may lead to inflation even on a gold standard.
How could going to a gold standard fix all costs?
When I say price stability I mean that prices are not effected by the price of money, i.e. through the monetary phenomena of inflation and deflation.
There would still be ups and downs in the cost of energy, changes in productivity and other fluctuations in the cost of producing goods.
Of course. But these price fluctuations should not be the result of monetary policy. The price of money should be constant over time.
Companies would still have to compete for the best labor by offering higher salaries to lure new employees. Prices would still rise. I don't see how it is possible to have 0 inflation over time.
It should not be difficult to immagine at all. Fluctuations in price due to increased productivity or thechnical innovation should be happening al the time. However, the means of exchangine goods and services should remain constant. An ounce of gold should cost the same in 1975 and in 2007.