Poland core inflation rises to 3.1% in July

The National Bank of Poland (NBP) reported that core inflation, which excludes food and energy prices, rose to 3.1% year-on-year in July, up from 3% in June. This increase brings the indicator back to levels seen in May, marking its highest point since October of last year.

Other specific inflation metrics provided by the NBP include: - Inflation excluding state-controlled prices: 2.8% (up from 2.1% in June). - Inflation excluding the most volatile prices: 3.4% (up from 2.8% in June). - The trimmed mean (removing the 15% of prices with the highest and lowest dynamics) remained stable at 2.8%.

These figures follow data from the Central Statistical Office (GUS), which indicated that headline consumer inflation (CPI) was 3% in July, compared to 2.5% in June. The rise in prices has been attributed to factors such as the expiration of the 'Lower Fuel Price' package, which led to immediate increases in fuel costs, as well as rising costs in transport, recreation, sport, and culture.