Core inflation (October 2024). Latest data

As reported by the National Bank of Poland, on a year-to-year basis inflation in October:

– after excluding administered prices (subject to state control) it was 3.5%, compared to 3.4%. a month earlier;

– after excluding the most volatile prices, it was 5.3%, just like a month earlier;

– after excluding food and energy prices, it was 4.1%, compared to 4.3%. a month earlier;

– the so-called 15 percent trimmed mean, which eliminates the impact of 15 percent. basket of prices with the lowest and highest dynamics was 4.5%, compared to 4.4%. a month earlier.

“The National Bank of Poland calculates four core inflation indices every month, which helps to understand the nature of inflation in Poland. The CPI shows the average change in prices of the entire, large basket of goods purchased by consumers. When calculating core inflation indices, price changes in various segments of this basket are analyzed “This allows us to better identify the sources of inflation and more accurately forecast its future trends. It also allows us to determine the extent to which inflation is permanent and the extent to which it is shaped, for example, by short-term price changes caused by unpredictable factors,” explained the central bank.

The indicator most often used by analysts is the inflation rate excluding food and energy prices.

“It shows the price trends of those goods and services on which the monetary policy pursued by the central bank has a relatively large impact. Energy prices (including fuel prices) are determined not on the domestic market, but on world markets, sometimes also under the influence of speculation. Prices food depend largely on, among others, the weather and the current situation on the domestic and global agricultural market,” NBP explained.