No. 966 - Firm-level uncertainty and output prices

Questioni di Economia e Finanza (Occasional papers)
by Elena Mattevi and Tullia Padellini
October 2025
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Using data from the Survey on Inflation and Growth Expectations (SIGE) conducted by Banca d'Italia between 2016 and 2024, this study investigates the relationship between changes in selling prices and the uncertainty that firms expect to face in their business conditions in the months following the survey.

Firms exposed to greater uncertainty are more likely to adjust their selling prices over the following 12 months and expect to make larger changes than the other firms. The analysis of the actual price changes implemented by firms also confirms such a positive relationship between uncertainty and prices.

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  1. 09 October 2025
    No. 966 - Firm-level uncertainty and output prices
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