Stable and well-anchored inflation expectations are key in central banks’ mandate to maintain price stability. However, consumer expectations research in the Philippines remains limited. This paper uses the BSP’s Consumer Expectations Survey to derive insights on household inflation expectations through a three-fold analysis of the salient commodities shaping consumer expectations, the predictive accuracy of household forecasts vis-à-vis other economic agents, and the informational value embedded in higher statistical moments of expectations distributions for future inflation. Empirical findings from LASSO regressions suggest that consumers’ inflation expectations are shaped by price changes in salient commodity groups such as food, beverages, and transport. The LASSO weights of salient items appear to align closely with the size of actual expenditure shares, although housing, while a large expenditure, does not receive proportionate public attention. The results are broadly similar across demographics, with low-income respondents notably more focused on food and rice compared to higher income classes. While households’ inflation expectations tend to be more dispersed and lagged actual price developments, empirical results show that higher moments of distributions of households’ survey responses, specifically disagreement, have substantial explanatory power for future inflation. The salience of specific consumption items in shaping household expectations could provide policymakers with insights into the benefits of a more targeted communication strategy. The findings of this paper also suggest that while consumers’ inflation forecasts are less accurate compared to firms and professional forecasters, their continued monitoring remains crucial because the distribution of responses, especially disagreement, offer additional information on where inflation could head.