Data and Code for "How Does Consumption Respond to News about Inflation?"

We implement a survey of Dutch households in which random subsets ofrespondents receive information about inflation. The resulting exogenously generatedvariation in inflation expectations is used to assess how expectations affect subsequentmonthly consumption decisions relative to those in a control group. The causal effects ofreduced inflation expectations on non-durable spending are imprecisely estimated but there is a sharp positive effect on durable spending. We provide evidence that this is likely driven by the fact that Dutch households seem to become more optimistic about their real income as well as aggregate spending when they decrease their inflation expectations.