Polish paper explains perceptions of higher inflation
Polish consumers' perception of inflation is "significantly affected" by the price changes in frequently bought products and services, according to a working paper published by the National Bank of Poland.
In How to define the Consumer Perceived Price Index? The case of Poland, Aleksandra Hałka and Tomasz Łyziak find that Polish consumers also "seem to disregard" any drop in the price of these items. This reflects, the authors say, their loss aversion to prices.
The paper develops a Consumer
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