Using daily consumer survey data, we analyze the transmission of gas prices to consumer beliefs and expectations about the economy. We exploit the high frequency and geographic disaggregation of our dataset to facilitate identification. Consumer sentiment becomes more pessimistic with rising gas...

We conduct a survey of 2,500 Chinese households to study their formation of gas price expectations following the 2022 Ukraine war. Respondents provided their priors about recent and future gas price inflation. Participants were randomly exposed to information about recent gas price inflation,...