Expectations about future inflation are crucial for central banks to achieve price stability. Researchers tested how well household inflation expectations predict actual inflation using Phillips curve models in the US, Eurozone, and UK. The hybrid Phillips curve model outperformed traditional models in predicting inflation. After the global financial crisis, the influence of inflation expectations on actual inflation increased. However, inflation expectations have a limited impact on actual inflation, indicating a forward-looking nature. Overall, inflation expectations significantly affect actual inflation, emphasizing the importance of central banks communicating effectively with the public to anchor inflation expectations.