Pakistan’s inflation rate eased to 10.26 percent in September 2026 from 11.15 percent in August, but remained sharply higher than the 5.76 percent recorded in September 2025.

The latest reading from the Pakistan Bureau of Statistics (PBS) was broadly in line with the 10.2 percent inflation forecast in a Bloomberg survey.

On a month-on-month (MoM) basis, inflation rose 0.3 percent in September, compared with a 1.2 percent increase in August.

The September figure pushed average Consumer Price Index (CPI) inflation for the first quarter of fiscal year 2026-27 (1QFY27) to 10.20 percent, compared with 4.30 percent in the same period last year.

This means average inflation in the first quarter was around 2.4 times the level recorded in 1QFY26.

Core inflation also showed continued price pressure, although it eased slightly to around 8.6 percent in September from 8.8 percent in August. It stood at 7.0 percent in September 2025.

Data for August showed that urban inflation increased 10.4 percent year-on-year (YoY), compared with 8.7 percent in July and 3.5 percent in August 2025. Urban inflation rose 0.9 percent MoM during the month.

Rural inflation was higher, rising 12.2 percent YoY in August against 9.9 percent in July and 2.5 percent a year earlier. On a MoM basis, rural inflation increased 1.6 percent.

Sensitive Price Indicator (SPI) inflation increased 9.5 percent YoY in August, down from 12.0 percent in July but significantly above 2.6 percent in August 2025. SPI inflation rose 0.9 percent MoM.

Wholesale Price Index (WPI) inflation climbed 11.8 percent YoY in August, compared with 9.4 percent in July and a decline of 1.0 percent in August 2025. On a MoM basis, WPI increased 2.0 percent.

Urban non-food, non-energy core inflation rose 8.8 percent YoY in August, while the corresponding rural measure increased 8.5 percent.

The 20 percent weighted trimmed mean measure also showed persistent underlying price pressures, with urban inflation at 8.9 percent YoY and rural inflation at 9.1 percent in August.