In the fourth episode, we were delighted to have Dectech’s founders, Dr. Henry Stott and Professor Nick Chater discuss the currently high levels of inflation. They broadly answer three key questions: how economists measure inflation, how it is perceived by the wider population, and what is its effect on businesses?  Specifically, this episode explores the psychology of inflation using a Behavioural Science lense. Among the topics discussed are: how measures of inflation relate to price perceptions, how consumers recognise inflation via different reference prices, and how businesses can adjust their prices in a way that is acceptable to customers. Here at Dectech we help businesses understand and manage consumer decision making. After two decades of forecasting behaviour changes, we wanted to share our knowledge of what affects our choices, our behaviours, and our experiences of products and services, what works and getting to grips with behavioural measures and predictions, not just in theory, but how these insights are applied in client side challenges. Predicting People is a podcast, all about the applications of behavioural science in the commercial world. In each episode, we invite experts to talk about how behavioural science has been affecting their business, and how they see it being used in the future.