Using a large household survey conducted by the Reserve Bank of India since 2005, we estimate the dynamics of aggregate inflation expectations over a volatile inflation regime. A simple average of the quantitative responses produces biased estimates of the official inflation data. We therefore...

Using data from the New York Fed's Survey of Consumer Expectations, we examine the information content of the updates to household inflation expectations. We find that, although consumers frequently revise their expectations, the adjustments are largely uninformative