Discussion Paper

Inflation Perceptions During the Covid Pandemic and Recovery

Abstract: Since 2016, the Michigan Surveys of Consumers (MSC) have included questions on inflation perceptions—what people believe inflation to have been—that are worded symmetrically with their long-standing questions on inflation expectations. The questions on inflation perceptions are currently posed four times a year—in February, May, August, and November. Using available data at the time, Axelrod, Lebow, and Peneva (2018) concluded that inflation expectations and perceptions are very similar and that if perceptions were to change, expectations were likely to change as well.


Access Documents


Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2024-01-19

Number: 2024-01-19-3