Inflacja i względna zmienność cen w Polsce

Abstract

This article presents the results of the impact of inflation on relative price volatility based on data from Poland in the period 2011 Q3-2020 Q4. In order to investigate this relationship, CPI data for 12 main groups of the inflation basket are used. The estimates showed that in the case of unexpected inflation, its significant impact on the RPV movements is noticeable, which, in turn, cannot be noticed in the case of expected inflation. Moreover, the functional form indicates a U-shaped relationship in the case of the RPV relation and unexpected inflation. The use of survey measures of forecasted inflation allows for a comprehensive view of the relation between the RPV and inflation.(original abstract)