More recently, the index shows a welcome reversal of that decline and is now at levels more consistent with our 2 percent objective.
Longer-term inflation expectations have moved much less than actual inflation or near-term expectations, suggesting that households, businesses, and market participants  The way the CIE combines the underlying measures means that it will tend not to be affected by underlying movements that are unique to individual measures; the CIE will reflect movements that are more common across underlying measures.