Friday, May 13, 2016

NBP: in April, excluding food and energy, deflation of 0.4 percent. – Polish Radio

Polish National Bank on Friday posted a message on indicators of core inflation in April 2016.


 

It shows that in the relationship yoy Inflation excluding administered prices (subject to State control) amounted to -1.2 per cent., Against 1.0 per cent. a month earlier; excluding the most volatile prices amounted to -0.3 per cent., the same as in the previous month; excluding food and energy prices stood at -0.4 per cent., compared to -0.2 percent. a month earlier; the so-called. 15-percent. trimmed mean, which eliminates the influence of 15 percent. price basket of the smallest and most dynamic, amounted to -0.5 per cent., the same as in the previous two periods analyzed.

 

lowest levels in history

The NBP also stressed that in 2016. All published core inflation measures remain very low, and most revolve around their historical lows.

 

– Only inflation excluding administered prices, after reaching in February 2015. Lowest level in history (-2.1 per cent. Y / y) in the period March – December 2015. Steadily increasing, but remains still negative and much lower than other measures of core inflation – the release reads.

Bank notes that given on May 12 this year. CSO CPI for April 2016. amounted to -1.1 percent. (Y / y).

According to the National Bank of Poland to deepen deflation was primarily the decline in prices of services by 0.5 percentage points to 0.4 percent. y / y in April., mainly due to the decrease in fees in the group communication (telecommunications services) and the prices of services in the field of recreation and culture (lower pricing of cable or satellite).

 

The decline in the annual growth of food prices

The lower inflation, albeit to a lesser extent, influenced the decline in the annual growth rate of prices of food and non-alcoholic beverages (by 0.2 pp. For 0.6 percent. y / y in April.) – adds NBP.

Polish National Bank reiterates that every month is calculated four indicators of core inflation, which helps to understand the nature of inflation in Poland. The CPI shows the average price movement of the whole, a large basket of goods purchased by consumers.

The most commonly used by analysts indicator is the rate of inflation excluding food and energy prices – marks the NBP. It shows the price movement over which monetary policy pursued by the central bank has a relatively large impact. Energy prices (including fuel) are determined in fact not in the domestic market, but on the world markets, sometimes under the influence of speculation. Food prices largely depend on, among others, the weather and the current situation at national level.

 

PAP, abo

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