If I start the processing purchase, I can see prices go up in another tab. If I finish the process (purchasing the tickets at the original price, mind), then the prices stay up. If I bail out and wait ~10 minutes, they go back down again (10 minutes is the length of time your flights are reserved before being released again).
This fluctuation doesn't happen all the time; looking at the "book your seat" page, it seems to be correlated to the number of seats already booked and crossing some threshold.
All of which may not at all be applicable in your case, but I thought it was interesting (/sensible) :).
Source: recently started working on Google Flights
EDIT: bonus round: screw with airline algorithmic pricing algorithms so hard that all their models get so screwed up that they end up ditching the idea. Victory for everyone except the airlines. Use the arbitrage profits to push this agenda. I'm sure you'd get sued out of existence long before it ever worked (unless e.g. It's open-source and ran by individuals), but it'd be hilarious. This is the kind of stuff I'd fund if I were rich.
If you hold without ticketing you have a limited time period you can hold, furthermore if you hold and cancel above a certain threshold the airlines will get upset and effectively block you from their inventory.
Here's their full paper: http://www.ccs.neu.edu/home/cbw/pdf/imc151-hannak.pdf
By the time you've figured everything and made up you mind to book, they know that you want to buy. This is when they increase the price. when you actually try to book. I often get flight no longer available at that price. some sites i have to start over, some offer me an increased price.
here's a pattern i saw, for a flight to book 2 days ago:
$775 (initial price) -> $779 -> $832 -> $895.
This price ladder happened regardless of how i accessed the booking, ie through different websites. I decided i wasn't paying another 100 bucks and gave up.
24 hours (approx) later, i booked the same flight, through the same website for $785.
The whole thing could be just random, but i've had this sort of thing before.