(Finance) – Statistical data and economic surveys are useful and valuable tools, which can be improved by combining them with other administrative and statistical information. “Cooperation between central banks, statistical offices and other institutions involved in data processing is valuable.” This is what the general director of the Bank of Italy, Luigi Federico Signorini, president of Ivass in his speech at the opening of the conference on new monetary policy perspectives on inflation and inflation prospects, organized in Rome by the via Nazionale institution together with Suerf.
Inflation expectations – he recalled Gentlemen – can make the growth dynamics of consumer prices “more persistent, or worse: start self-reinforcing inflationary spirals”. The most obvious channel of interaction is that inflation expectations weigh on wages and prices. A further channel is that of interest rates. And a third possible channel of influence is that of the conditions under which firms’ pricing power is determined. All these elements – highlighted Signorini – highlight the importance of careful collection and selection of data.
The two-day conference “promises to be rich and productive, with many interesting presentations”, concluded the director general of the Bank of Italy.