Emiliano Santoro in the Financial Times: The inflation enigma needs unorthodox answers

”Perhaps this is the crucial point: what we need is not just economic analysis of price trends but on-the-ground ethnographic analysis of how consumer perceptions of prices operate. Scandinavian central bankers have looked at the social context of price trends, while last year the Fed published an intriguing paper on “Consumers’ Attitudes and Their Inflation Expectations”. This suggested consumers predict higher inflation when their household finances are under pressure and when they read media discussions about inflation”