Narodowy Bank Polski published its February 2025 core inflation indices, showing headline Consumer Price Index inflation of 4.9% year on year and inflation excluding food and energy of 3.6% year on year, down from 3.7% in the prior month. Across the other core measures, inflation excluding administered (state-controlled) prices was 3.5% (3.4% previously), inflation excluding the most volatile prices was 4.9% (4.8% previously), and the 15% trimmed mean was 4.6% (4.4% previously). The central bank reiterated that the indices are produced monthly to help isolate sources and persistence of inflation, noting that the food-and-energy-excluded measure is widely used in inflation targeting because it tracks prices more responsive to monetary policy, while energy prices are largely set in global markets and food prices are strongly influenced by weather and agricultural conditions.
Central Bank of Poland 2025-03-17
Central Bank of Poland reports February 2025 core inflation at 3.6% excluding food and energy with CPI at 4.9%
Narodowy Bank Polski released February 2025 core inflation indices, with headline Consumer Price Index inflation at 4.9% year on year and inflation excluding food and energy at 3.6%, down from 3.7% the previous month. Other core measures showed slight increases, with inflation excluding administered prices at 3.5% and the 15% trimmed mean at 4.6%. The central bank emphasized the indices' role in isolating inflation sources, highlighting the significance of the food-and-energy-excluded measure in inflation targeting.