Pakistan’s inflation accelerated to 11.7 percent year-on-year in May 2026, reaching its highest level since June 2024, according to official data. The reading is higher than 10.9 percent recorded in April 2026 and significantly above 3.5 percent in May 2025.

On a monthly basis, the Consumer Price Index (CPI) increased by 0.5 percent in May 2026, compared to a 2.5 percent rise in the previous month. In May 2025, prices had slightly declined by 0.2 percent.

Urban inflation stood at 11.8 percent year-on-year, up from 11.1 percent in April, while rural inflation rose to 11.5 percent compared to 10.6 percent a month earlier. Monthly price increases were 0.7 percent in urban areas and 0.3 percent in rural areas.

The Sensitive Price Indicator (SPI), which tracks short-term price movements, increased by 12.0 percent year-on-year, compared to 10.1 percent in April. However, on a monthly basis, SPI growth slowed to 0.7 percent from 2.0 percent in the previous month.

Wholesale Price Index (WPI) inflation stood at 12.7 percent year-on-year in May, slightly lower than 13.6 percent in April, though still well above the 0.4 percent recorded a year earlier. On a monthly basis, WPI declined by 0.8 percent after a sharp 5.1 percent increase in April.

Core inflation also remained elevated. Urban non-food, non-energy inflation rose 9.0 percent year-on-year, while rural core inflation reached 8.4 percent.