My understanding is that economists use the term inflation for the rise in prices - strictly the fall in value or purchasing power of a currency. The increase

My understanding is that economists use the term inflation for the rise in prices - strictly the fall in value or purchasing power of a currency. The increase in money is termed 'expansion of the money supply'. There are a number of measures of money supply, going from narrow, cash only, to broad to include cash like instruments. There is a strong relationship between money supply and inflation, different schools of economic thought understand it differently, but in general when you increase the money supply, its purchasing power falls. Ballooning asset valuations have largely/entirely been caused by QE and ultra low interest rates, other prices are going to be affected by this too. Supply side shocks of course play their part, but current inflation is probably primarily driven by this loose monetary policy.