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The modern monetary policy approach sustains that increased transparency and enhanced communication are essential for the success of the central banks decisions. The National Bank of Romania is conducting a transparent monetary policy, releasing to society a considerable amount of information. The problem is that the public does not always receive correct all these information. The reasons for these inconvenient may be multiple, but in this paper we will focus firstly, on the transmission channels which may not be suitable and secondly, on the receivers, which may not have the capacity to understand the information. According to NBR, the inflation reports represent the main communication tool with the public, so our goal is to verify if they are fulfilling their role or there are other information sources which are more appropriate. Beside all the factors that influence the public capacity to understand the inflation phenomenon, we will concentrate our analysis on the impact of age, income and education. The necessary data for our analysis were collected using a questionnaire.

Keywords: inflation, knowledge level of inflation, inflation reports, transparency, survey