NBP provided important data. A big surprise

Adam Glapiński

Base inflation in April amounted to 3.4 percent. in an annual basis – NBP said. This reading is a bit better than experts expected.

The National Bank of Poland (NBP) presented on Friday data on base inflation, i.e. an indicator showing prices after turning off energy and food prices. Base inflation in April was 3.4 percent. year to year, compared to 3.6 percent in March. This reading is a bit better than economists’ forecasts (market consensus was 3.5 percent).

Basic inflation down

In relation to year on year, inflation:

  • After excluding administered prices (subject to state control), it amounted to 2.7 percent, compared to 3.4 percent. a month earlier;

  • After turning off the most variable prices, it amounted to 4.6 percent, compared to 5.0 percent. a month earlier;

  • After switching off food and energy prices, it amounted to 3.4 percent, compared to 3.6 percent. a month earlier;

  • so -called 15 % The average average, which eliminates the influence of 15 percent. Price basket with the smallest and largest dynamics amounted to 3.9 percent, compared to 4.6 percent. a month earlier.

Consumer inflation. There is a decline

We would like to remind you that the data presented on Thursday by the Central Statistical Office (CSO) shows that consumer inflation in April was 4.3 percent. year to year, compared to 4.9 percent in March. This reading is slightly higher than the preliminary data presented at the end of April (4.2 percent).

The detailed data provided by the Office shows that prices in April – compared to the same period of 2024 – increased the most in the category “use of an apartment or house and energy carriers” (an increase of 10.8 percent). Similar increases were recorded in the categories of “alcoholic beverages and tobacco products” and “non -alcoholic foods and drinks” (by 6.1 and 5.3 percent, respectively). On the other hand, the decrease in prices was recorded in the “apartment equipment and household equipment” category (0.5 percent reduction).

The NBP calculates four base inflation rates every month, which helps to understand the nature of inflation in Poland. The CPI indicator shows the average change in prices of the entire, large basket of goods bought by consumers. When calculating basic inflation indicators, price changes are subjected to various segments of this basket. This allows you to better identify the sources of inflation and forecast its future trends more accurately. It also allows you to determine to what extent the inflation is permanent, and in which it is shaped, e.g. by short -term changes in prices caused by unpredictable factors.

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