Core inflation in Poland, excluding food and energy prices, reached 2.5% year-on-year in February 2026. The figure came in slightly below market expectations, which had pointed to a reading of 2.6%.
Importantly, this is the first core inflation reading that exactly matches the inflation target set by the National Bank of Poland (NBP). It is also the lowest level recorded since 2019, marking a significant shift in Poland’s inflation dynamics after several years of elevated price pressures.
However, it should be noted that the current data does not yet reflect the potential impact of recent geopolitical developments, particularly the escalation of the conflict in the Middle East. The economic consequences of these tensions are likely to become visible in upcoming inflation readings, especially through higher oil and natural gas prices, as well as a strengthening U.S. dollar.
For economists and investors, core inflation measures play a crucial role in assessing underlying price trends in the economy. By excluding the highly volatile components of food and energy, core inflation helps distinguish persistent price pressures from short-term fluctuations often driven by external factors such as commodity price swings.
This makes core inflation an essential indicator for evaluating the true scale of inflationary pressure and anticipating the future direction of monetary policy decisions by the central bank.
Disclaimer:
The information contained in this publication is for informational purposes only. It does not constitute financial or any other form of advice, is general in nature, and is not directed at any specific individual or entity. Before using the information for any purpose, independent professional advice should be sought.
Source:
https://ceo.com.pl/inflacja-bazowa-w-lutym-spadla-do-25-proc-to-najnizszy-poziom-od-2019-roku-14297
