The second  6  channel is that it is likely to take time for inflation expectations to rise. Per orthodox thinking, a mutual feedback between actual prices and inflation expectations is assumed to operate. That is, if actual prices increase, people's inflation expectations also will rise, and if inflation expectations rise, actual prices also will increase.
If firms and households expect that wages and prices will not increase easily, this feedback will not operate smoothly. In this context, recent studies point out that people's inflation expectations tend to depend not only on developments in actual prices, but also individuals' experiences over a long period.