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Who Is Driving the Recent Decline in Consumers Inflation Expectations?

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Abstract

The expectations of U.S. consumers about inflation have declined to record lows over the past several months. That is the finding of two leading surveys, the Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) and the University of Michigan’s Survey of Consumers (SoC). In this post, we examine whether this decline is broad-based or whether it is driven by specific demographic groups.

Suggested Citation

  • Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2016. "Who Is Driving the Recent Decline in Consumers Inflation Expectations?," Liberty Street Economics 20160105, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87087
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    More about this item

    Keywords

    Expectations; Inflation; Survey;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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