The Central Bank of Poland published its September 2025 core inflation indicators, reporting Consumer Price Index (CPI) inflation of 2.9% year-on-year and core inflation excluding food and energy prices of 3.2% y/y, unchanged from the previous month. Across the other core measures, inflation excluding administered (state-controlled) prices was 2.5% y/y (unchanged), inflation excluding the most volatile prices eased to 3.7% y/y (from 3.8%), and the 15% trimmed mean fell to 2.9% y/y (from 3.0%). The bank reiterated that it publishes four core indices monthly to support analysis of the sources and persistence of inflation, noting that the ex-food-and-energy measure is commonly used by analysts because it is more responsive to monetary policy, while food and energy prices are more influenced by weather and global market conditions.
2025-10-16Central Bank of Poland
Central Bank of Poland publishes September 2025 core inflation indices with CPI at 2.9% y/y and core ex food and energy at 3.2% y/y
The Central Bank of Poland's September 2025 core inflation indicators show CPI inflation at 2.9% y/y and core inflation excluding food and energy at 3.2% y/y, both unchanged. Inflation excluding administered prices remained at 2.5% y/y, while inflation excluding volatile prices eased to 3.7% y/y, and the 15% trimmed mean fell to 2.9% y/y. The bank emphasized its four core indices' importance for analyzing inflation sources and persistence, highlighting the ex-food-and-energy measure's responsiveness to monetary policy.