Pakistan’s inflation rate increased to 11.7 percent year-on-year (YoY) in May 2026, marking its highest level since June 2024, according to Arif Habib Limited.
This compares with 10.9 percent recorded in April 2026 and 3.5 percent in May 2025, according to latest data published by the Pakistan Bureau of Statistics (PBS).
On a month-on-month basis, the Consumer Price Index (CPI) rose by 0.5 percent in May 2026, following a 2.5 percent increase in the previous month. In May 2025, CPI had declined by 0.2 percent.
Urban inflation stood at 11.8 percent YoY, up from 11.1 percent in April 2026 and 3.5 percent in May 2025. Monthly urban inflation increased by 0.7 percent, compared to 2.7 percent in the previous month and a marginal 0.1 percent rise in May 2025.
Rural inflation reached 11.5 percent YoY, compared to 10.6 percent in April 2026 and 3.4 percent in May 2025. On a monthly basis, rural prices rose by 0.3 percent, slower than the 2.1 percent increase in April 2026 and higher than the 0.5 percent decline seen in May 2025.
The Sensitive Price Indicator (SPI) rose by 12.0 percent YoY in May 2026, compared to 10.1 percent in April and a 0.6 percent decline in May 2025. On a monthly basis, SPI increased by 0.7 percent, slowing from a 2.0 percent rise in the previous month.
Wholesale Price Index (WPI) inflation stood at 12.7 percent YoY in May 2026, down from 13.6 percent in April 2026 but significantly higher than 0.4 percent in May 2025. On a monthly basis, WPI declined by 0.8 percent, compared to a 5.1 percent increase in April.
Core inflation also showed an upward trend. Urban non-food, non-energy inflation rose 9.0 percent YoY in May 2026, compared to 8.0 percent in April and 7.3 percent in May 2025. Monthly urban core inflation increased by 1.3 percent.
In rural areas, the same measure rose 8.4 percent YoY, slightly lower than 8.5 percent in April but above 8.8 percent recorded in May 2025. Monthly rural core inflation increased by 0.2 percent.
The trimmed mean measure for urban inflation increased 9.8 percent YoY, up from 9.2 percent in April and 4.9 percent in May 2025. On a monthly basis, it rose by 0.6 percent.
In rural areas, the trimmed mean inflation stood at 9.6 percent YoY, compared to 8.9 percent in April and 4.7 percent in May 2025, with a monthly increase of 0.8 percent.
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