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POLAND: CPI Net of Administered Prices Steady at +3.2% Y/Y

POLAND
PolandCEEMEAEM BulletBulletEmerging Market News
  • We flagged earlier today that alternative measures of core inflation would be worth looking at given the central bank monitors a number of core gauges.
  • The NBP publishes four such measures (CPI net of food and energy prices, CPI net of administered prices, CPI net of most volatile prices, and the 15% trimmed mean).
  • On that front, CPI net of administered prices – which may be of particular interest given recent commentary surrounding the impact of regulatory factors – remained steady at 3.2% Y/Y in December, while the standard core ex-food and energy measure posted a more notable decline from +4.3% to +4.0%.

Fig. 1: Poland CPI vs. Core CPI (% Y/Y)

image

Source: MNI/NBP

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  • We flagged earlier today that alternative measures of core inflation would be worth looking at given the central bank monitors a number of core gauges.
  • The NBP publishes four such measures (CPI net of food and energy prices, CPI net of administered prices, CPI net of most volatile prices, and the 15% trimmed mean).
  • On that front, CPI net of administered prices – which may be of particular interest given recent commentary surrounding the impact of regulatory factors – remained steady at 3.2% Y/Y in December, while the standard core ex-food and energy measure posted a more notable decline from +4.3% to +4.0%.

Fig. 1: Poland CPI vs. Core CPI (% Y/Y)

image

Source: MNI/NBP