Islamabad, May 2, 2025 – Pakistan’s headline inflation hit a multi-year low in April 2025, reflecting a significant deceleration in consumer prices.
According to the latest data released by the Pakistan Bureau of Statistics (PBS), headline inflation based on the Consumer Price Index (CPI) declined to just 0.3% year-on-year (YoY), the lowest level seen in recent years. This marks a sharp drop compared to 0.7% in March 2025 and 17.3% in April 2024, signaling a notable slowdown in price growth.
On a month-on-month (MoM) basis, headline inflation also showed a decline of 0.8% in April 2025, reversing a 0.9% increase in the previous month. In comparison, April 2024 had witnessed a decrease of 0.4%.
In urban areas, CPI inflation slowed to 0.5% YoY, down from 1.2% in March and 19.4% in April 2024. The monthly trend also reflected easing prices, with a decline of 0.7% MoM, compared to a 0.8% rise last month. Rural CPI inflation also posted a significant improvement, decreasing 0.1% YoY versus no change in March and 14.5% YoY in April 2024. On a monthly basis, rural areas recorded a 1.0% MoM drop, compared to a 1.1% increase previously.
The Sensitive Price Indicator (SPI), which tracks weekly price movements of essential commodities, recorded a 3.2% YoY decrease in April 2025, a sharper fall than 2.3% in March and 21.6% in April 2024. On MoM basis, SPI dropped 1.7%, indicating continued deflationary pressure.
The Wholesale Price Index (WPI) also trended downward, with a 2.2% YoY decrease, compared to a 1.6% drop in March and a 13.9% increase a year earlier. WPI on MoM basis showed a 1.3% decline, reversing the previous 0.3% gain.
Core inflation, measured by non-food non-energy (NFNE) indicators, remained elevated but showed gradual easing. Urban core inflation stood at 7.4% YoY and 1.3% MoM, while rural core inflation was 9.0% YoY and 0.9% MoM.
The trimmed core inflation, using a 20% weighted mean, fell to 3.8% in urban and 3.3% in rural areas, with stable or slightly declining monthly trends.
With headline inflation now registering substantial declines across categories, the data points to a broader disinflationary trend in Pakistan’s economy, offering relief to consumers and policymakers alike.