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Selling price expectations for services: what do they tell us about consumer price pressures?

Author

Listed:
  • Bobeica, Elena
  • Paredes, Joan
  • Renault, Théodore
  • Rousseau, Flavie

Abstract

Available surveys of selling price expectations of firms for the euro area point to price dynamics that have substantially moderated after the recent large inflationary shock, albeit with a more sluggish adjustment for services than for goods. This box focuses on services and investigates the leading indicator properties of the forward-looking survey data provided by the European Commission. These data tend to anticipate notable turning points in services inflation. In addition, in a forecasting exercise, we find that their leading properties manifest in a non-linear way and are particularly useful in unusual times, such as during the recent inflation spike. JEL Classification: E31, E37, D84

Suggested Citation

  • Bobeica, Elena & Paredes, Joan & Renault, Théodore & Rousseau, Flavie, 2024. "Selling price expectations for services: what do they tell us about consumer price pressures?," Economic Bulletin Boxes, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbbox:2024:0005:6
    Note: 2382002
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    More about this item

    Keywords

    inflation; non-linearity; Selling price expectations;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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