Prices don't immediately double. My layman's understanding is that it heavily depends on where you put the new doubled money in the economy, and it's resulting

Prices don't immediately double. My layman's understanding is that it heavily depends on where you put the new doubled money in the economy, and it's resulting velocity. If you give it to banks they might park it in assets, increasing their prices, but then the money "stops" moving through the economy and doesn't have a large effect on things like food prices for instance. If you give it to people who need to make rent now, then they probably spend it immediately, often to people who also spend it soon, and it has a higher velocity and broadly affects prices before being absorbed into a slower moving asset like a bond or long term stock holding.