Pakistan’s annual inflation rose 9.2% year-on-year in July 2026, according to data released by the Pakistan Bureau of Statistics (PBS). However, the latest reading remained lower than the 11.1% recorded in June.
The National Consumer Price Index (CPI) also increased by 1.2% on a monthly basis. In comparison, inflation declined 0.3% in June but had risen 2.9% during July 2025.
Although annual inflation eased from the previous month, prices remained significantly higher than last year. Consequently, households continued facing elevated living costs across the country.
Urban And Rural Inflation Show Mixed Trends
Urban CPI inflation slowed to 8.7% year-on-year in July from 11.2% in June. Similarly, rural inflation eased to 9.9% from 10.9% during the same period.
On a monthly basis, both urban and rural inflation increased by 1.2%. Meanwhile, June recorded a 0.5% decline in urban prices and no monthly change in rural inflation.
The Sensitive Price Index (SPI), which tracks essential commodities, increased 12% year-on-year in July. However, the figure was lower than June’s 12.8% increase. On a monthly basis, SPI inflation rose 2.4%, compared with 0.7% in June.
Wholesale And Core Inflation Ease Further
The Wholesale Price Index (WPI) increased 9.4% year-on-year in July, down from 10.7% in June. Additionally, wholesale prices remained unchanged on a monthly basis after declining 1.2% in June.
Core inflation also moderated across most indicators. Urban non-food non-energy inflation eased to 8.6%, while the urban trimmed mean declined to 7.5%. Furthermore, the rural trimmed mean slowed to 8% despite a slight increase in rural non-food non-energy inflation.
Overall, the July data indicated easing annual inflationary pressure. Nevertheless, monthly price increases suggested inflation continues to affect consumers and businesses across both urban and rural Pakistan.
