Pakistan inflation clocks in at 10.3% in September 2026

Pakistan's inflation rate reached 10.3% on a year-on-year basis in September 2026, according to data released by the Pakistan Bureau of Statistics. This figure was higher than the 11.1% recorded in August of the same year. The consumer price index (CPI) stood at 5.6% in September 2025.

The government had anticipated elevated inflation in the near term, with the headline CPI inflation projected to hover between 10-11% in September 2026. The subsequent trajectory of inflation would largely hinge on global oil prices, the report stated.

Higher government spending and interest payments contributed to a consolidated fiscal deficit of Rs596.6 billion in July 2026. The Prime Minister's Fuel Relief Scheme, aimed at assisting lower-income households, was noted to provide support through a digital delivery system, which maintained purchasing power without compromising fiscal discipline.

Experts had predicted that Pakistan's consumer price inflation would ease to approximately 10% in September 2026. However, rising fuel and electricity costs were expected to keep price pressures elevated, complicating the central bank's policy outlook. Forecasts from various brokerage firms ranged from 9.9% to 10.5% year-on-year inflation in September.