CPI inflation accelerates from 9.2% in July as rural prices rise 12.2% and wholesale inflation reaches 11.8%
ISLAMABAD, September 1, 2026: Pakistan’s headline inflation accelerated sharply to 11.1% year-on-year (YoY) in August 2026, compared with 9.2% in July and 3.1% in August 2025, according to data released by the Pakistan Bureau of Statistics (PBS) on Tuesday.
On a month-on-month (MoM) basis, Consumer Price Index (CPI) inflation increased by 1.2% in August, unchanged from the previous month. The index had declined by 0.6% in August 2025.
The latest figures point to a broad-based acceleration in price pressures, with rural consumers facing a sharper increase in inflation than their urban counterparts.
Rural inflation rises to 12.2%
CPI inflation in rural areas increased to 12.2% YoY in August 2026, compared with 9.9% in July and 2.5% in August 2025.
On a monthly basis, rural inflation rose 1.6%, compared with 1.2% in July, while prices had declined by 0.5% in August 2025.
Urban CPI inflation also accelerated, reaching 10.4% YoY in August from 8.7% in July and 3.5% in August 2025.
Urban inflation increased 0.9% MoM during August, compared with 1.2% in July and a 0.7% decline in the same month last year.
SPI inflation slows to 9.5%
The Sensitive Price Indicator (SPI), which tracks price movements of essential items, increased 9.5% YoY in August 2026, compared with 12.0% in July and 2.6% in August 2025.
On a monthly basis, SPI inflation rose 0.9%, slowing significantly from 2.4% in July. The index had increased by 3.2% MoM in August 2025.
The moderation in SPI inflation suggests that price pressures for essential consumer items eased somewhat during the month, despite the acceleration in headline CPI inflation.
Wholesale inflation accelerates
The Wholesale Price Index (WPI) also recorded a significant acceleration during August.
WPI inflation increased to 11.8% YoY, compared with 9.4% in July and a 1.0% decline in August 2025.
On a monthly basis, WPI inflation rose 2.0% in August, following no change in July and a 0.2% decline in August 2025.
The increase in wholesale prices points to persistent cost pressures that could continue to affect consumer prices.
Core inflation remains elevated
Core inflation, measured through the non-food non-energy (NFNE) index, also remained elevated.
Urban NFNE inflation increased to 8.8% YoY in August, compared with 8.6% in July and 6.9% in August 2025.
On a monthly basis, urban NFNE inflation rose 0.5%, compared with 0.7% in July.
Rural NFNE inflation increased to 8.5% YoY, compared with 8.1% in July and 7.8% in August 2025. On a MoM basis, it rose 0.6% in August against 0.9% in July.
Trimmed-mean core inflation rises
The 20% weighted trimmed-mean measure also showed an acceleration in underlying price pressures.
Urban trimmed-mean core inflation rose to 8.9% YoY in August, compared with 7.5% in July and 4.2% a year earlier.
On a monthly basis, it increased 0.4%, compared with 0.6% in July.
Rural trimmed-mean core inflation increased to 9.1% YoY, compared with 8.0% in July and 3.5% in August 2025.
On a monthly basis, rural trimmed-mean inflation rose 1.1% in August, compared with 1.0% in July and 0.3% in August 2025.
Inflationary pressures strengthen
The August inflation data indicate that Pakistan continues to face significant price pressures, with headline CPI inflation returning to double digits and rural inflation rising faster than urban inflation.
The acceleration in wholesale inflation and continued strength in core inflation also point to broader underlying price pressures in the economy.
With headline inflation now at 11.1%, the August figures are likely to remain a key indicator for policymakers and businesses assessing the direction of prices, household purchasing power and the broader economic outlook.