Paper finds link between housing costs and inflation expectations

Housing inflation expectations exceed other measures – National Bank of Belgium research

National Bank of Belgium
Photo: National Bank of Belgium

Households in the eurozone expect higher long-term inflation if housing costs are included, researchers from National Bank of Belgium have found.

The European Central Bank uses an inflation measure that only partially incorporates owner-occupied housing (OOH) costs, such as rent, the paper says. But it excludes other costs associated with owning, maintaining and living in one’s own home.

This is the case even though OOH costs are “highly important to euro area households”, the researchers said in

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