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While that's good news for the Federal Reserve, it's still higher than the Fed's inflation target of 2%. Why is that?

What consumers think about price growth matters. But finding out what they think is a tough task

What consumers think about price growth matters. But finding out what they think is a tough task, says the Financial Times’ Gillian Tett.

Inflation makes us pine for the low-price days of a year or two ago, and our faulty memories aren’t helping

Gender roles influence economic expectations Women expect higher rates of inflation than men. Socialised gender norms may influence the economic expectations men and women have. A recent study published in PNAS suggests that women are more likely expect higher future inflations rates than men, due to common gender roles. Women largely do more grocery shopping than men, and therefore routinely see different price signals, because grocery prices are volatile. This means many women remember price increases more acutely and predict higher inflation rates. This in turn affects how and what women ...