Table 3.

Inflation expectations: own shopping vs. other information sources

	Own shopping			Other information sources
	1	2	3	4	5	6
			M, gas; F,			Nobody gas
Source of information:	All	All	groceries	All	All	or groceries
Main grocery shopper	$0.866^{***}$			$-0.053$
	$\left(0.288\right)$			$\left(0.192\right)$
Female		$1.209^{***}$	1.705***		$-0.222$	−0.166
		$\left(0.252\right)$	(0.548)		$\left(0.153\right)$	(0.202)
Demographics	X	X	X	X	X	X
Expectations	X	X	X	X	X	X
${\mathrm{R}}^2$	0.123	0.126	0.200	0.079	0.080	0.090
Observations	2,325	2,325	499	5,774	5,774	3,384

Shown are ordinary-least-squares coefficients and standard errors clustered at the household level (in parentheses). Observations are the responses of male and female heads of household in the customized Chicago Booth Expectations and Attitudes Survey, which we fielded in June 2016. In columns 1–3, we consider only the subsample of respondents who argue that their main source of information to form inflation expectations is their own shopping (which we observe only in the 2016 wave), whereas in columns 4–6 we consider the respondents who report other sources of information. In column 3, we further restrict the sample to households whose male head reports that he thought about gas prices when forming expectations, whereas the female head reported thinking about grocery prices. In column 6, we instead restrict the sample to male and female household heads who report explicitly the goods/services they thought about, which do not include either gas or groceries. In all columns, the outcome variable is respondents’ 12-mo-ahead numerical inflation expectations. Main grocery shopper is an indicator for the respondents who are the main grocery shoppers for their households; Female is an indicator for female heads; Demographics include age, square of age, employment status, 16 income dummies, home ownership, marital status, college dummy, four race dummies, reported risk tolerance, and confidence in inflation-expectations accuracy. Expectations include dummies for respondents’ 12-mo-ahead qualitative income expectations, 12-mo-ahead individual financial soundness, and 12-mo-ahead aggregate US growth. ***$P<0.01$.