The role of consumer price expectations in shaping inflation

The purpose of the study is to assess the role of consumer price expectations in shaping inflation, taking into account changes in the economic environment. The analysis will be carried out on the example of Poland for a period of relatively good economic prosperity and periods of its collapse due to the occurrence of the 2007+ financial crisis and the COVID-19 pandemic and the war in Ukraine. The adopted objective and the related main areas of analysis determined the layout and empirical nature of the article, which consists of three parts and a conclusion. The first reviews the literature on the impact of price expectations on the economy. Then, the subject and temporal scope of the study conducted are presented, and the research method used is discussed. The results of the empirical analysis of the role of price expectations in driving inflation on the example of Poland are included in the third part of the article. The conclusion of the paper formulates the most important conclusions resulting from the analysis. The obtained results of the conducted research are also discussed in the context of the challenges of developing artificial intelligence.