State Street Corporation has announced the acquisition of long-term partner PriceStats, a global leader in daily inflation statistics derived from millions of digitally sourced consumer-product prices. Founded in 2011, PriceStats collects price data from over 1,500 retailers worldwide and has been a foundational component of State Street’s Markets research platform. “Accurate and actionable measurement of economic activity increasingly requires the collection and analysis of large unstructured data sets. The recent period of rapidly changing inflation has demonstrated the need for near-real-time data,” said Will Kinlaw, Head of State Street Data Intelligence. PriceStats will be integrated into State Street’s Data Intelligence division alongside its existing private capital indices suite to offer clients new proprietary data products aimed at accelerating investment decision-making in the real economy.
Also Read: Tyfone and Uptiq Join Forces to Elevate SMB Banking Intelligence
PriceStats co-founder Pilar Iglesias noted, “Inflation has recently become a key challenge for many economies around the world… For 15 years, PriceStats has led the way in developing methods that help investors navigate today’s macroeconomic environment with a differentiated approach. Joining State Street is an important milestone for PriceStats and highlights the value of the partnership we have built with State Street over the years.” Meanwhile, co-founder Alberto Cavallo will remain as an academic partner of State Street Associates and will help develop additional products focused on high-speed measurement of the real economy. With this acquisition, State Street underscores its drive to leverage tech-driven, digital solutions and alternative data to meet the demands of a rapidly evolving macro-economy and to extend its analytics offerings for institutional investors, economists and central banks alike.