why further qe is unlikely, page-16

Sorry mate.

Inflation is an increase in the money supply and rising prices are a symptom of inflation.

There may be a lag between inflation and rising prices if the transmissiong mechanism is broken but it is increases in the money supply that cause inflation.

Rising prices due to real demand (not caused by funny money) will trigger market action to bring more supply to market eventually lowering prices.

If there was a massive sudden monetary inflation prices would rise largely without regard to supply and demand equation.

There are many cases of this in history with Wiemar Germany being the most famous.

Twinsen