European central bank official warns AI profit distribution could influence inflation trends

On September 21, 2026, Fabio Panetta, a member of the European Central Bank's Management Committee and also the Governor of the Bank of Italy, warned that the distribution of profits generated by artificial intelligence could directly impact inflation trends. Speaking at an event hosted by the National Bank of Ukraine, Panetta emphasized that central banks must clarify who benefits from AI-driven gains, as this will influence overall demand and inflation. He noted that if AI creates new jobs and raises expectations of labor income, demand could rise before productivity gains are fully realized, prolonging inflationary pressures. Panetta also stressed that central banks cannot remain passive and must understand current changes to maintain public trust. He added that if automation replaces human labor, weaker consumer spending could accelerate the anti-inflationary effects of AI.