Core inflation

From March 2009 Narodowy Bank Polski compiles and publishes four measures of core inflation

From March 2009 Narodowy Bank Polski compiles and publishes four measures of core inflation

From March 2009 Narodowy Bank Polski compiles and publishes four measures of core inflation:

  • inflation net of administered prices*,
  • inflation net of most volatile prices*,
  • inflation net of food and energy prices,
  • 15% trimmed mean.

Measures of core inflation introduced in March 2009

Core inflation times series starting from 2001 on a monthly, quarterly and yearly basis 

Methodology of calculating core inflation measures published
by Narodowy Bank Polski
 (updated: March 2024)
 

Last table update: January 16, 2025 — data for December 2024

Month CPI excluding administered prices excluding the most volatile prices excluding food and energy prices 15% trimmed mean
changes to the corresponding month of the previous year (in %)
07-2024 4.2 2.8 4.6 3.8 4.2
08-2024 4.3 2.9 4.8 3.7 4.0
09-2024 4.9 3.4 5.3 4.3 4.4
10-2024 5.0 3.5 5.3 4.1 4.5
11-2024 4.7 3.2 5.3 4.3 4.4
12-2024 4.7 3.2 5.2 4.0 4.3
changes to the previous month (in %)
07-2024 1.4 0.1 1.2 0.4 0.4
08-2024 0.1 0.1 0.1 0.3 0.2
09-2024 0.1 0.0 0.4 0.3 0.2
10-2024 0.3 0.3 0.5 0.4 0.2
11-2024 0.5 0.5 0.4 0.2 0.2
12-2024 0.0 0.0 0.0 -0.1 0.1

Source: NBP calculations based on Statistics Poland data

The core inflation index publication calendar in 2025 year

Date of publication Data for
17 March 2025 January & February 2025
16 April 2025 March 2025
16 May 2025 April 2025
16 June 2025 May 2025
16 July 2025 June 2025
18 August 2025 July 2025
16 September 2025 August 2025
16 October 2025 September 2025
17 November 2025 October 2025
16 December 2025 November 2025
16 January 2026 December 2025
Core inflation indices are published at 2:00 pm.