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4min chapter
The "Money Illusion" Keeps the Economy Hot | Juliette Declercq
Forward Guidance
Why Rising Inflation Expectations Can Help Growth
If I think the price of milk is going to be 10% more expensive next month, I want to buy a lot of milk now. In an environment where prices are going to go up, you want much more inventories because it's actually going to make you money. And also that's basically on the back of like the flip side is basically that the consumer wants to basically front load consumption as well. So at the top in the dark green line, we're now back to updated that chart this morning. We were like a bit above 180. That's about the same level as we were pre-crisis. But if you're looking in real terms, which is the green line
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