ISLAMABAD, November 3: Pakistan’s consumer price inflation eased to 9.6% in October from 10.3% in September, the Pakistan Bureau of Statistics (PBS) said, but prices rose 1.1% in a single month as chicken, wheat and flour became sharply more expensive. Inflation has averaged 10.05% in the first four months of the 2026-27 fiscal year, and wholesale prices are rising even faster, at 13.8%.
Key highlights
- National CPI: +9.6% year on year in October (September: +10.3%); +1.1% month on month.
- Rural inflation (9.8%) ran slightly ahead of urban inflation (9.5%); rural prices rose 1.5% in the month.
- Core inflation (non-food, non-energy): 7.8% in urban areas and 7.1% in rural areas.
- In cities, chicken rose 19.38% in a month, wheat 9.01% and wheat flour 7.54%; tomatoes fell 31.63%.
- Wholesale Price Index: +13.8% year on year; Sensitive Price Indicator: +8.7%.
The headline numbers
| Measure | October 2026 |
|---|---|
| National CPI, year on year | 9.6% (September: 10.3%) |
| National CPI, month on month | 1.1% |
| July–October average | 10.05% |
| Urban CPI, year on year / month on month | 9.5% / 0.8% |
| Rural CPI, year on year / month on month | 9.8% / 1.5% |
| Core inflation (NFNE), urban / rural | 7.8% / 7.1% |
| Sensitive Price Indicator, year on year | 8.7% (September: 8.4%) |
| Wholesale Price Index, year on year | 13.8% (September: 13.3%) |
What got dearer — and cheaper — in a month
| Item (urban CPI) | Change on September |
|---|---|
| Chicken | +19.38% |
| Pulse gram | +9.17% |
| Wheat | +9.01% |
| Liquefied hydrocarbons (LPG) | +8.39% |
| Wheat flour | +7.54% |
| Fresh vegetables | +6.55% |
| Eggs | +5.72% |
| Motor fuel | +3.00% |
| Electricity charges | −3.31% |
| Onions | −4.23% |
| Potatoes | −4.04% |
| Tomatoes | −31.63% |
Our calculation
- Annual slowdown, monthly jump: the 1.1% rise in one month is equivalent to about 14% if it continued for a year, so the easing in the annual rate does not mean prices are calm now.
- Pipeline pressure: wholesale inflation (13.8%) is 4.2 percentage points above consumer inflation, a sign that cost increases could still pass through to shoppers.
- Villages hit harder: rural prices rose almost twice as fast as urban prices in October (1.5% vs 0.8%).
What it means
Single-digit annual inflation is welcome after September’s double-digit reading, but the details are less comforting. Staple foods — wheat, flour and chicken — drove the monthly rise, which hits poorer households hardest, and higher LPG and motor-fuel prices show the effect of costly energy. Lower electricity charges helped in October, but core inflation of more than 7% suggests price pressure is not limited to food and fuel.
What to watch
- Weekly Sensitive Price Indicator readings for wheat, flour and chicken.
- Fuel and LPG price notifications for November.
- The State Bank of Pakistan’s next monetary policy decision.
- November CPI, due in early December.
File photo: Empress Market in Karachi, February 2020. Image: A.Savin, Free Art Licence, via Wikimedia Commons. Photo source · Licence
Sources
- Pakistan Bureau of Statistics: Monthly Review on Price Indices, October 2026 (PDF)
- Pakistan Bureau of Statistics: Monthly inflation report for October 2026
The Business Desk covers markets, the economy, companies and personal finance. Stories are checked against at least two credible sources before publication.
