Is there a term for when a normal every day item suddenly takes on an highly-inflated worth in a 'crisis'?

We’re experiencing a serious heat wave in the Pacific Northwest, with temps soaring over 100. As a result, people have been buying air conditioners before anyone can get them, and reselling them for 3 or 4 times their normal value on Craig’s List. I know this is gouging based on supply and demand, but is there an economic term that describes when something temporarily takes on an extremely inflated value because of circumstance? i.e. face masks during swine flu outbreaks?