Increase in core inflation in August according to NBP data

According to Wednesday's announcement by the National Bank of Poland, core inflation, calculated after excluding administered prices (subject to state control), amounted to 3.3 percent in August. compared to 2.8 percent a month earlier.

Inflation calculated after excluding the most volatile prices amounted to 3.6%. compared to 3.4 percent a month earlier.

Core inflation calculated after excluding food and energy prices amounted to 3.3%. compared to 3.1 percent a month earlier, and the so-called 15 percent trimmed mean, which eliminates the impact of 15 percent. basket of prices with the lowest and highest dynamics, amounted to 2.8 percent. compared to 2.8 percent a month earlier.

No food or energy

"The most frequently used indicator 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) are set not on the domestic market, but on global markets, sometimes also under the influence of speculation. Food prices depend largely on, among others, the weather and the current situation on the domestic and global agricultural market," the central bank said.

NBP reminded that every month it calculates four core inflation indicators, which - according to NBP - "helps 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," NBP explained.