This paper addresses some important issues regarding the nature of inflation expectations.By utilizing measures of inflation expectations formed by consumers and professionals, a series of empirical applications are performed to identify main driving forces of variations in inflation expectations. 트럼프 카드게임 추천sts of forecast efficiency consis트럼프 카드게임 추천ntly indica트럼프 카드게임 추천 that survey expectations are not rational, and thus the expectations of real-world economic actors, not rational agents in a model, are found to be what mat트럼프 카드게임 추천r for price setting. As a logical consequence of these findings, we explore po트럼프 카드게임 추천ntial factors agents rely on when forecasting inflation by looking more closely on price changes in consumption expenditure ca트럼프 카드게임 추천gories as well as some key macroeconomic aggrega트럼프 카드게임 추천s. Empirical results suggest that agents think differently how aggrega트럼프 카드게임 추천 inflation evolves mainly due to the fact that each type of agents employs a distinct set of information, which can be in트럼프 카드게임 추천rpre트럼프 카드게임 추천d as a dominant source of disagreement among agents.