Cecchetti and others (2017) show that while the level of realized inflation and four-quarter-ahead inflation expectations are positively correlated, changes in these variables have been largely uncorrelated since the mid-1980s.
The  BIS Review 40/2009  1  market is driven by negative expectations that overshadow the positive trend in the private finances of most Danes. Expectations that cash prices will fall further can be self-fulfilling if people are hesitant to buy, and this pattern that can be difficult to break. Especially if unemployment is rising.