Business Inflation Expectations

The BIE was created to measure the year-ahead inflationary sentiments of businesses in the Sixth District. It also helps inform our view of the sources of cost changes and provides insight into the factors driving business' pricing decisions.

Business Inflation Expectations Rise Slightly to 2.3 Percent - October 2018

  • Inflation expectations: Firms' inflation expectations increased somewhat to 2.3 percent over the year ahead.
  • Current economic environment: Sales levels compared to "normal times" went unchanged over the month. Profit margins were virtually unchanged as well, and year-over-year unit costs increased to 2.2 percent, on average.
  • Quarterly question: Long-term inflation expectations (per year, over the next five to 10 years) increased to 2.9 percent, on average.
  • Special question: Firms provided a rating (from 0 to 100, with 100 being most optimistic) of their level of optimism for both their own firm's financial prospects as well as the U.S. economy overall. Both optimism measures had a median value of 80. Please see the special question section for a comparison of this month's values with prior months' values.
Click on a marker to view that month's results summary (starting January 2012).

Source: Atlanta Fed Business Inflation Expectations (BIE) Survey


Standard Questions

The questions below are asked each month to assess the firm’s current business environment and inflation expectations.

Question 1. How do your current sales levels compare with sales levels during what you consider to be "normal" times?

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Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Question 2. How do your current profit margins compare with "normal" times?

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Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Question 3. Looking back, how do your unit costs compare with this time last year?

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Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Question 4. Projecting ahead, to the best of your ability, please assign a percent likelihood to the following changes to unit costs over the next 12 months.

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Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta


Rotating Questions

Each question is asked once per quarter in the order indicated below.

Quarterly Question: Projecting ahead, to the best of your ability, please assign a percent likelihood to the following changes to unit costs per year over the next FIVE TO 10 years.

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Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Quarterly Question: Projecting ahead over the next 12 months, how do you think the following five common influences will affect the prices of your products and/or services?

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Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Show Diffusion | Show Response Breakdown

Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Show Diffusion | Show Response Breakdown

Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Show Diffusion | Show Response Breakdown

Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Show Diffusion | Show Response Breakdown

Source: Federal Reserve Bank of Atlanta

Source: Federal Reserve Bank of Atlanta

Quarterly Question: By roughly what percent are your firm's unit sales levels above/below "normal," if at all?

Source: Federal Reserve Bank of Atlanta


Special Questions

Typically a unique question is asked each month exploring a current topic of interest to policymakers.

Special Question