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 2025)
 

Inflacja bazowa - Tabela zmiany do analogicznego miesiąca poprzedniego roku

Last table update: December 16, 2025 — data for November 2025

Month CPI excluding administered prices excluding the most volatile prices excluding food and energy prices 15% trimmed mean
06-2025 4.1 2.5 4.5 3.4 3.7
07-2025 3.1 2.7 3.9 3.3 3.2
08-2025 2.9 2.5 3.8 3.2 3.0
09-2025 2.9 2.5 3.7 3.2 2.9
10-2025 2.8 2.3 3.4 3.0 2.6
11-2025 2.5 2.0 3.1 2.7 2.4
Inflacja bazowa - tabela zmiany do analogicznego miesiąca poprzedniego roku (w %)
Source: NBP calculations based on Statistics Poland data

Inflacja bazowa - Tabela zmiany do poprzedniego miesiąca

Last table update: December 16, 2025 — data for November 2025

Month CPI excluding administered prices excluding the most volatile prices excluding food and energy prices 15% trimmed mean
06-2025 0.1 0.1 0.3 0.3 0.1
07-2025 0.3 0.2 0.6 0.3 0.2
08-2025 0.0 0.0 0.1 0.2 0.1
09-2025 0.0 -0.1 0.1 0.2 0.1
10-2025 0.1 0.1 0.1 0.1 0.1
11-2025 0.1 0.1 -0.1 -0.1 0.1
Inflacja bazowa - Tabela zmiany do poprzedniego miesiąca (w %)
Source: NBP calculations based on Statistics Poland data

The core inflation index publication calendar in 2025 year

Date of publication Data for
16 December 2025 November 2025
16 January 2026 December 2025
Core inflation indices are published at 2:00 pm.