Pakistan inflation clocks in at 10.3% in September 2026

Pakistan's headline inflation came in at 10.3% year-on-year in September 2026, down from 11.1% in August, according to Pakistan Bureau of Statistics (PBS) data released on Thursday. The consumer price index was 5.8% in September 2025, a year earlier. On a month-on-month basis, prices rose 1.3%, slightly above the 1.2% recorded in August.

Urban inflation slowed to 10.1% year-on-year from 10.4% in August, while rural inflation eased to 10.5% from 12.2%. Month-on-month, urban prices rose 1.3% and rural prices 1.2%. Over the first quarter of FY27, CPI inflation reached 10.2%, against 4.3% in the same period last year.

The Finance Division had projected September headline inflation at between 10% and 11% in its monthly update, noting that the path ahead will depend largely on international oil prices. Several brokerages, including Topline Securities, had estimated a range of 9.9% to 10.5%, though rising fuel and electricity costs were seen keeping price pressures high. The same update named global oil prices as the main hazard, given their bearing on household budgets, production costs and imports.