Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices

The relationship between energy commodity prices and inflation has important implications for fiscal policy and economic stability. The nature of energy commodities is multi‑dimensional, serving both as basic raw materials in production processes and as critical consumer goods. This study focuses o...

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Main Authors: Piotr Palac, Justyna Tomala
Format: Article
Language:English
Published: Uniwersytet Pedagogiczny im. Komisji Edukacji Narodowej w Krakowie 2024-12-01
Series:Prace Komisji Geografii Przemysłu Polskiego Towarzystwa Geograficznego
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Online Access:https://prace-kgp.uken.krakow.pl/article/view/11250
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author Piotr Palac
Justyna Tomala
author_facet Piotr Palac
Justyna Tomala
author_sort Piotr Palac
collection DOAJ
description The relationship between energy commodity prices and inflation has important implications for fiscal policy and economic stability. The nature of energy commodities is multi‑dimensional, serving both as basic raw materials in production processes and as critical consumer goods. This study focuses on estimating the impact of oil, natural gas and coal prices on inflation in Poland. Through the adoption of multiple regression models using quarterly data from Q2 2000 to Q3 2023, the study aims to estimate the impact of energy commodity prices, particularly oil, coal, and natural gas, on inflation in Poland and to answer the research question: What role do energy commodity prices play in shaping inflation in Poland? The empirical analysis revealed that oil and coal prices significantly influence inflation, reflecting Poland’s energy dependency. Natural gas prices showed a limited impact due to lower consumption and mitigation policy measures. The significant impact of energy prices suggests that energy market developments should be closely monitored for their inflationary potential. The study offers valuable insights for policymakers in their efforts to effectively manage inflationary pressure. The article contributes to the literature by presenting the short‑run relationship between inflation and energy commodity prices, covering long period of time with both financial, COVID‑19 crisis and the Russian aggression in Ukraine.
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institution Kabale University
issn 2080-1653
2449-903X
language English
publishDate 2024-12-01
publisher Uniwersytet Pedagogiczny im. Komisji Edukacji Narodowej w Krakowie
record_format Article
series Prace Komisji Geografii Przemysłu Polskiego Towarzystwa Geograficznego
spelling doaj-art-d7c27a61a0c647bc8c7c98e78b6b590a2024-12-25T22:20:15ZengUniwersytet Pedagogiczny im. Komisji Edukacji Narodowej w KrakowiePrace Komisji Geografii Przemysłu Polskiego Towarzystwa Geograficznego2080-16532449-903X2024-12-0138410.24917/20801653.384.1Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global PricesPiotr Palac0Justyna Tomala1Krakow University of EconomicsKrakow University of Economics The relationship between energy commodity prices and inflation has important implications for fiscal policy and economic stability. The nature of energy commodities is multi‑dimensional, serving both as basic raw materials in production processes and as critical consumer goods. This study focuses on estimating the impact of oil, natural gas and coal prices on inflation in Poland. Through the adoption of multiple regression models using quarterly data from Q2 2000 to Q3 2023, the study aims to estimate the impact of energy commodity prices, particularly oil, coal, and natural gas, on inflation in Poland and to answer the research question: What role do energy commodity prices play in shaping inflation in Poland? The empirical analysis revealed that oil and coal prices significantly influence inflation, reflecting Poland’s energy dependency. Natural gas prices showed a limited impact due to lower consumption and mitigation policy measures. The significant impact of energy prices suggests that energy market developments should be closely monitored for their inflationary potential. The study offers valuable insights for policymakers in their efforts to effectively manage inflationary pressure. The article contributes to the literature by presenting the short‑run relationship between inflation and energy commodity prices, covering long period of time with both financial, COVID‑19 crisis and the Russian aggression in Ukraine. https://prace-kgp.uken.krakow.pl/article/view/11250energy commodity pricesenergy sectorinflationPoland
spellingShingle Piotr Palac
Justyna Tomala
Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices
Prace Komisji Geografii Przemysłu Polskiego Towarzystwa Geograficznego
energy commodity prices
energy sector
inflation
Poland
title Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices
title_full Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices
title_fullStr Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices
title_full_unstemmed Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices
title_short Aggregated Inflation in Poland: Examining Impact of the Energy Commodity Global Prices
title_sort aggregated inflation in poland examining impact of the energy commodity global prices
topic energy commodity prices
energy sector
inflation
Poland
url https://prace-kgp.uken.krakow.pl/article/view/11250
work_keys_str_mv AT piotrpalac aggregatedinflationinpolandexaminingimpactoftheenergycommodityglobalprices
AT justynatomala aggregatedinflationinpolandexaminingimpactoftheenergycommodityglobalprices