In economics, what does "inflation expectation" really means?

does it mean inflation in the long-run? does it mean that central bank have change outlook for inflation in the future when it change monetary policy; what does it really mean;

Answer:
"Inflation expectation" also referred to as "inflationary expectations" is the anticipated rate of inflation over a specified period of time, or for a particular time period. It does not necessarily mean "in the long run" because average inflation over very long periods of time is kind of stable (around 3 to 4% in the US, I believe) It refers more to shorter periods, usually specified or alluded to in the context. One of the goals of changes in monetary policy is to control the rate of inflation, so yes, changes in monetary policy often will cause changes in the anticipated rate of inflation. However, other factors cause changes in inflationary expectations, such as an increase in consumer demand (Increased demand drives prices up) caused by low levels of unemployment (more people working, more money to spend, more demand.)
"inflation expectation" would be defined as a forward looking term, telling you in a percentage or direction, what or how much the person or group having it, would think the general price level would increase during a given period of time.
I'd say inflation prediction for the future.

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