The Determinants of Consumers’ Inflation Expectations: Evidence from the US and Canada

Charles Bellemare, Rolande Kpekou Tossou & Kevin Moran
Expectations about future inflation are of central importance for public policy and monetary authorities. The inflation expectations of consumers influence their economic choices related to wage negotiations, consumption and savings and, in turn, influence firms’ pricing decisions and aggregate price changes. Monitoring and analyzing consumer inflation expectations is a key aspect of monetary policy practice. This paper examines two current surveys—the Federal Reserve Bank of New York’s Survey of Consumer Expectations and the Bank of...
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