Core Consumer Price Index (Eurostat) in Poland

It is Poland's core Consumer Price Index, tracking the change in consumer prices excluding the most volatile components, chiefly energy and food. It is calculated by the National Bank of Poland (NBP) from the CPI produced by the statistics office (GUS) and reflects the underlying trend in inflation.

It starts from the headline CPI (a regular, weighted price survey based on the consumption basket) and strips out the most erratic price groups. The NBP publishes several core measures; the benchmark one excludes food and energy prices. It is released as a year-on-year (YoY) change.

By removing the most volatile components it gives a cleaner read on underlying inflation pressures, so the NBP watches it closely to guide monetary policy and the rate path. A hotter-than-expected print tends to support the zloty.

By excluding energy and food it does not capture the real cost households face when those prices rise sharply, so it should be read alongside the headline CPI. Several core definitions coexist, which can cause confusion.