It seems likely there are other factors at play, that are not included in the basic model.
For example, suppose that a large portion of new money is simply gifted to a few actors. How would that affect the inflation of the prices of goods and services? What would it mean to you if your salary stayed fixed? How would it affect your life?
If those actors simply held onto the money and kept in the bank, then, largely, there may be little practical consequence to the economy as the prices of goods and services might be unchanged.
If those actors used the money for massive purchasing goods and services, the prices of those goods and services may go up, making them relatively expensive and less affordable for most people with a fixed salary.
If those actors used the money to employ people in the production of goods and services, then potentially, the cost of those goods and services could actually go down (and its surprising that governments don't directly do this as a method of stimulus).
So, inflation of prices generally, isn't a necessary logical consequence of new money. Far more important is the relationship that supply and demand has on prices. Inflation becomes an extreme concern when good and services, particularly the necessities of life (shelter, food, water, power, ... toilet paper) are in much less supply than there is demand. The supply of these items may have little to do with the total amount of available money in an economy -- rich actors with mountains of money may have little use for an extra can of beans, and their ability to pay $2000 dollars for one is unlikely to have large effects on the price of beans in a crisis. Price inflation can happen when supply chains fail and supply is reduced, driving up prices.
Price inflation can happen when there is an increase in demand, and there is a fear of future supply shortages.
Its important to note that the text book model is one of macroeconomics. It relates the total money to the average price of items in a closed economy. It may say little about the median prices of individual goods and services. Money velocity is a critical component than doesn't necessarily increase with money supply. Further, the text book model it a model of the fixed points of a dynamic process. These are theoretical value that do not consider the process itself to be changing.
Price inflation occurs in failed economies it is sometimes as a reaction to failures in supply chains, as opposed to the release of new money.
Price inflation isn't necessarily bad for people either. If we doubled the amount of money in the economy, but also doubled people's wages in consequence, it might have zero effect on most people's lives. In this scenario, the major losers might actually be people having a large amount of cash, who value has suddenly decreased.
So to answer the question, to know the effect of new money on prices, you need to know the effect that money will have on the supply and demand of good and services, and their production. If the new money is given to people who cash-out-refinance their homes, and place that money in a CD, I would expect little change in the prices of most goods and services, at least in the short term, and perhaps even little change in loan prices and homes. The full answer is, its complicated, and depends a lot what the new money is used for, its consequence on behaviors, and the subsequent effect on supply and demand, particularly if were talking about the prices of individual items and not averages.