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We provide a dynamical mechanism to generate localized features duringinflation. The local feature is due to a sharp waterfall phase transition whichis coupled to the inflaton field. The key effect is the contributions ofwaterfall quantum fluctuations which induce a sharp peak on the curvatureperturbation which can be as large as the background curvature perturbationfrom inflaton field. Due to non-Gaussian nature of waterfall quantumfluctuations a large spike non-Gaussianity is produced which is narrowly peakedat modes which leave the Hubble radius at the time of phase transition. Thelarge localized peaks in power spectrum and bispectrum can have interestingconsequences on CMB anisotropies.

Local Features with Large Spiky non-Gaussianities during Inflation