[akkartik]

It's not a bubble if prices going up because of monetary policy. It's inflation.

[eru]

But if inflation in different parts of the economy has different rates, than you can get a sudden re-alignment.

[akkartik]

Hmm. Maybe if the economy inflates at differing rates it's not just because of monetary policy?

It's hard to reason about inflation because different goods do tend to inflate at differing rates. Perhaps we should measure the change in inflationary rates before and after some specific event.