The Central Bank of Poland (NBP) published its April 2025 core inflation indices, showing a Consumer Price Index (CPI) inflation rate of 4.3% year on year and core inflation excluding food and energy of 3.4% year on year, down from 3.6% in March. Across the four NBP core measures, inflation excluding administered prices fell to 2.7% year on year from 3.4%, inflation excluding the most volatile prices eased to 4.6% from 5.0%, and the 15% trimmed mean declined to 3.9% from 4.6%. The NBP reiterated that it calculates these indices monthly to help identify inflation sources and assess how persistent price pressures are, noting that the core measure excluding food and energy is widely used in inflation targeting because it better reflects prices more responsive to monetary policy than food and energy components.
Central Bank of Poland 2025-05-16
Central Bank of Poland publishes April core inflation data with CPI at 4.3% and core excluding food and energy at 3.4%
The Central Bank of Poland reported April 2025 core inflation indices: Consumer Price Index inflation at 4.3% year on year, core inflation excluding food and energy at 3.4% (down from 3.6% in March), inflation excluding administered prices at 2.7% (down from 3.4%), inflation excluding the most volatile prices at 4.6% (down from 5.0%), and the 15% trimmed mean at 3.9% (down from 4.6%). The NBP emphasized monthly calculations to identify inflation sources and assess price pressure persistence, highlighting the core measure excluding food and energy for its relevance in inflation targeting.