By Moaaz Manzoor

Pakistan’s inflation trend showed a clear reversal in recent months, with the Consumer Price Index (CPI) rising steadily from 5.6% in December 2025 to 10.9% in April 2026.

According to the “Monthly Review on Price Indices April 2026” released by the Pakistan Bureau of Statistics and available with Wealth Pakistan, inflation remained relatively moderate during late 2025 before accelerating sharply in early 2026.

The data shows that CPI inflation stood at 5.6% in December 2025, followed by a slight increase to 5.8% in January 2026. The upward trend continued in February, when inflation rose to 7.0%, and further accelerated to 7.3% in March before reaching 10.9% in April.

This progression reflects a sustained increase over a four-month period, indicating a shift in price dynamics after a phase of relative stability.

A comparison with earlier months shows that inflation declined significantly during 2025. CPI inflation dropped from 11.1% in July 2024 to 4.1% in December 2024, and further eased to 0.3% by April 2025, marking one of the lowest levels in recent years.

Following this decline, inflation began to rise gradually during mid-2025. It increased to 3.5% in May and 3.2% in June, before climbing to 4.1% in July and 5.8% in September. The upward trend continued through the final quarter of 2025, with inflation reaching 6.2% in October and 6.1% in November.

The data indicates that the current rise in inflation marks a continuation of this upward trajectory, with a sharper acceleration observed in early 2026.

Month-on-month figures also reflect this trend. CPI increased by 0.4% in January 2026, followed by 0.3% in February and 1.2% in March, before rising further to 2.5% in April, indicating increasing momentum in price changes.

The report also shows similar movements in other indices. The Sensitive Price Indicator (SPI) rose from 7.5% in December 2025 to 10.3% in March 2026 and further to 10.1% in April. The Wholesale Price Index (WPI) also recorded an increase from 0.6% in December to 6.7% in March and 13.6% in April.

The data indicates that inflation has shifted from a period of moderation to a renewed acceleration, with increases observed across multiple indices during early 2026.

The overall pattern reflects a consistent upward movement in prices over recent months, as captured in the official statistics.

Credit: INP-WealthPk