Agreed. Price growth is natural when you increase the money supply. It's one of the reasons that the CPI index is flawed, as it does not include food costs directly.
Increases in the money supply don't reach everywhere at once; inflation is not evenly distributed. It's distributed, often, through hedge funds that can borrow large amounts of money from banks. You're looking at the effect and the mechanism of easily-borrowable-money actually being borrowed to bid up a particular sector of the economy; much as, earlier, it was borrowed to bid up real estate.
