NBP: in July, deflation without food and energy prices was 0.4 percent. – Virtual Poland

In July this year. deflation excluding food and energy prices was 0.4 per cent., compared to deflation of 0.2 percent. a month earlier – he said on Tuesday in a press NBP. CPI in the reporting period amounted to -0.9 percent. on an annual basis – like the central bank.

Polish National Bank published on Tuesday error rates of core inflation in July 2016.

It shows that in the relationship yoy Inflation excluding administered prices (subject to State control) amounted to -0.9 percent ., compared with -0.7 a month earlier; excluding the most volatile prices amounted to -0.1 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, was -0.3 per cent., which is the same as in the previous month – adds NBP.

The Central Bank points out in a press release that “in 2016. All published core inflation measures remain at a very low level and in 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 – remains but still negative and significantly lower than other measures of core inflation “- noted the NBP.

The notes also stated that on August 12 this year. CSO CPI for July 2016. amounted to -0.9 percent. (Y / y).

“To deepen deflation largely driven by decline in fuel prices – by 2.1 percentage points, to -11.1 percent. Y / y (reduction of oil prices on world markets) and commodity prices non-food – by 0.4 pp. to -1.4 percent. y / y (mainly from the decrease of prices of medical and pharmaceutical products). the growth of prices of food and non-alcoholic beverages increased in July. to 1.0 per cent. y / y (vs. 0.9 percent. y / y in June), “- says the message.

Polish National Bank also recalls that every month is calculated four indicators of core inflation, “which helps to understand the nature of inflation in Poland.”

“The most commonly used by analysts indicator is the rate of inflation excluding food and energy prices. It shows the movement of prices, which monetary policy pursued by the central bank has a relatively large impact. Energy prices (including fuel) are determined not because the domestic market, but on the world markets, sometimes under the influence of speculation. food prices largely depend inter alia on the weather and the current situation on the domestic and world agricultural market, “- he added.