Factors Driving Consumers’ Inflation Expectations: Does the Central Bank’s Inflation Forecast Really Matter?

Forward-looking component in consumers’ expectations and inflation forecast targeting:the case of six European economies

“…The publication of inflation forecasts, which is the most important part of forwardlooking communication that we deal with in this article, should align expectations of economic agents. Several authors have undertaken to conduct empirical verification of such a relation (see: Ehrmann et al, 2012;Hubert, 2015;Pedersen, 2015;Szyszko and Płuciennik, 2018). These examinations cover a variety of countries and methodologies.…”