Variants for calculating averages

Since the launch of the surveys in 2020, only responses between -12% and +12% have been taken into account when calculating the mean and median inflation expectations. Whilst inflation rates of more than 12% were fairly unlikely until recently, they could no longer be classified as “extreme” values in the current environment. The following chart shows another indicator that factors in responses between -24% and +24%. Since February 2022, the average calculated in this way has been consistently above the previous indicator.

Average over the next three or five years