We examine whether changes in the distribution of household inflation expectations contain information on future … inflation. We first discuss recent shifts in micro data from the US, UK, Germany, and Canada. We then zoom in on the US to … explore econometrically whether distributional characteristics help predict future inflation. We find that the shape of the …

of inflation and the magnitude of information treatment effects found in surveys across countries and time: when … inflation is high, people respond less to provided information about inflation. …