In an era of heightened global economic volatility, central banks face unprecedented challenges in tracking, forecasting, and responding to inflationary pressures. Effective inflation surveillance frameworks are vital for ensuring financial stability, guiding monetary policy, and safeguarding economies from shocks. This training course equips participants with advanced tools, modern frameworks, and global best practices to design, implement, and manage robust inflation surveillance systems that support evidence-based decision-making and enhance macroeconomic resilience.

Through practical modules, case studies, and hands-on exercises, participants will gain expertise in integrating traditional and high-frequency data, adopting innovative monitoring tools, and building cross-institutional frameworks tailored to evolving inflation dynamics. The course highlights strategic approaches to strengthen surveillance, improve forecasting accuracy, and provide central banks with actionable insights for effective policy responses in rapidly changing economic environments.

Duration: 10 Days

Target Audience

• Central bank economists and monetary policy analysts
• Financial stability and research professionals
• Government treasury and finance officials
• Supervisory and regulatory officers
• Economists in international financial institutions
• Data scientists supporting economic policy
• Risk and compliance professionals
• Policy advisors in fiscal and monetary affairs
• Academic researchers in monetary economics
• Consultants in macroeconomic strategy and analysis

Course Objectives

• Understand the fundamentals of inflation surveillance frameworks
• Develop effective monitoring systems for inflationary pressures
• Integrate traditional and high-frequency data in surveillance
• Strengthen institutional capacity for inflation monitoring
• Explore advanced forecasting and scenario modeling techniques
• Apply global best practices in monetary policy design
• Evaluate risks associated with inflation mismeasurement
• Enhance collaboration between central banks and stakeholders
• Improve policy communication based on surveillance findings
• Design adaptable and resilient inflation frameworks

Course Modules

Module 1: Foundations of Inflation Surveillance

• Evolution of inflation monitoring
• Importance of surveillance for monetary policy
• Institutional roles in inflation frameworks
• Core concepts in inflation dynamics
• Framework design principles

Module 2: Data Systems for Inflation Surveillance

• Sources of inflation-related data
• Challenges of data quality and coverage
• Integrating price indices and consumption data
• High-frequency and alternative data sources
• Data governance in central banks

Module 3: Core Inflation Indicators

• CPI, PPI, and GDP deflator analysis
• Headline vs. core inflation
• Trade-offs in indicator selection
• Using composite indices
• Limitations of traditional indicators

Module 4: Advanced Forecasting Techniques

• Time-series modeling for inflation
• Structural models in monetary policy
• Machine learning applications
• Scenario analysis and stress testing
• Model validation and accuracy checks

Module 5: High-Frequency Data Integration

• Web scraping for price data
• Retail transaction analytics
• Social media sentiment indicators
• Mobile payment data insights
• Real-time surveillance platforms

Module 6: Early Warning Systems for Inflation Shocks

• Identifying inflation risk triggers
• Threshold analysis methods
• Alert frameworks for policymakers
• Case studies of early warning models
• Crisis-preparedness in central banks

Module 7: Policy-Relevant Surveillance Frameworks

• Aligning frameworks with inflation targeting
• Role of surveillance in policy adjustments
• Communication of inflation outlooks

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.