the Covid pandemic. Inflation responded asymmetrically to movements in demand. This helps to explain why inflation did not … most of the rise during the rebound. Inflation rates across firms have become more dispersed and skewed since the start of … the pandemic. We find that average price inflation is positively correlated with the dispersion and skewness of the …

-based questions. We show that inflation density forecasts are sensitive to the survey question designs used to elicit them. The within …-based inflation density forecasts …

This paper analyses the response of firms to monthly CPI inflation releases using high-frequency data from a large … economy-wide business survey. CPI inflation perceptions respond very quickly, in a matter of hours after the release. We also … find that firms' expected own-price growth has a strong positive correlation with changes in CPI inflation, particularly …

We implement a survey-based randomized information treatment that generates independent variation in the inflation … expectations and the uncertainty about future inflation of European households. This variation allows us to assess how both first … and second moments of inflation expectations separately affect subsequent household decisions. We document several key …

Macro data suggests a convex relationship between inflation and economic slack, but identifying causality is … strongest in firms and industries with higher inflation, disappears in horizons beyond two years, and is also present in … response to cost shocks. We rationalize these findings in a menu cost model with positive trend inflation and decreasing …

conventional and aggregated inflation expectations. Our results chart a new course for designing measurement of inflation …This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts … across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on …

We document how supply-chain pressures, household inflation expectations, and firm pricing power interacted to induce … the pandemic-era surge in consumer price inflation in the euro area. Initially, supply-chain pressures increased inflation … through a cost-push channel and raised inflation expectations. Subsequently, the cost-push channel intensified as firms with …

This paper examines how homeownership status shapes attention to inflation and its impact on durable consumption. Using … randomized controlled trials on U.S. households (2021-2023), we document systematic heterogeneity in responses to inflation … variation in inflation expectations induced by the treatments, we find that homeowners adjust durable spending significantly …