# Inflation rate in Pakistan for September 2026: 10.3%, down from 11.1%

Source: Searchable (https://searchable.pk/news/economy/inflation-rate-in-pakistan-september-2026)
Type: News article
Author: Searchable Editorial
Published: 27 Sept 2026
Updated: 1 Oct 2026
Retrieved: 1 Oct 2026

> Prices still rose 1.3% in the month; the yearly rate eased because last September's jump drops out. What 10.3% means for groceries, salary and savings, with the policy rate at 11.5%.

**Updated Thursday 1 October 2026, 10:45pm PKT.** The **inflation rate in Pakistan** was **10.3% in September 2026**, down from **11.1% in August**, according to the Pakistan Bureau of Statistics (PBS) *Monthly Review on Price Indices* for September. Prices rose **1.3%** from August (an earlier version of this story, based on press reports, said 0.3%; the PBS release shows 1.3%). The figure landed at the bottom of the 10.25% to 10.75% range Topline Securities had forecast, and inside the Finance Division's 10% to 11% projection.

## The numbers

| Measure | September 2026 | August 2026 |
|---|---|---|
| CPI inflation, year on year | **10.3%** | 11.1% |
| CPI, month on month | **1.3%** | 1.2% |
| Urban CPI / Rural CPI, year on year | **10.1% / 10.5%** | 10.4% / 12.2% |
| Wholesale prices (WPI), year on year | **13.3%** | 11.8% |
| Core inflation (excludes food and energy) | **8.6%** | 8.8% |
| SBP policy rate | **11.5%** | 11.5% |

- **July to September average:** **10.2%**, against **4.3%** in the same quarter last year, ProPakistani reported. Prices are rising more than twice as fast as a year ago.
- **Real interest rate:** with the policy rate at 11.5%, it now sits about **1.2 percentage points** above inflation, still thin by Pakistan's usual standard of 2 to 3 points.
- Track every month on our [CPI inflation page](/data/cpi-yoy) and the [policy rate history](/data/sbp-policy-rate).

## Why it eased, and why it is still high

The slowdown is base-effect arithmetic, not cheaper prices: prices still rose **1.3% in the month**, a little faster than August's 1.2%, but September 2025 had jumped **2.1%**, so the year-on-year comparison softened. Rural inflation fell fastest, from 12.2% to 10.5%. Wholesale prices, which tend to reach shop shelves later, sped up to **13.3%**. The pressure has not gone. Oil is the main risk the Finance Division names: Brent crude went back above **$100 a barrel** on 1 October after Chinese refiners suspended October fuel exports, CNBC reported. Locally, PSO's ex-depot petrol price is **Rs 387.40 a litre** today ([live petrol price](/data/petrol-price)) and diesel **Rs 400.35** ([diesel price](/data/diesel-price)), and electricity costs have climbed. The LPG price for October also rose by Rs 244 to **Rs 3,296** for an 11.8 kg cylinder ([LPG price story](/news/economy/lpg-price-in-pakistan-today-rs-3296-for-an-118-kg-cylinder-up-rs-244-for-october)).

## What it means for you

At 10.3%, a monthly grocery and bills basket that cost **Rs 50,000** in September 2025 now costs about **Rs 55,150**. If your salary has not risen by at least 10.3% in the past year, your real pay has fallen: work out the raise you need with our [salary increment calculator](/tools/finance/salary-increment-calculator).

## Savings and loans

Savings products paying less than 10.3% are losing value in real terms. Compare current [National Savings profit rates](/guides/banking/national-savings-profit-rates) and work out your return with the [National Savings calculator](/tools/finance/national-savings-calculator). For borrowers, a reading below 11% eases the pressure on the State Bank to raise rates at its next meeting, but another oil spike would reverse that; KIBOR, which sets most car and home loan rates, is [here](/data/kibor-1y).

## What to watch

- **Fuel:** any change in petrol and diesel prices feeds straight into October's number.
- **Electricity:** quarterly and fuel cost adjustments on bills are the other big swing factor.

*Earlier, 27 September 2026:* Topline Securities projected September inflation at 10.25% to 10.75%, Dawn reported.

## Frequently asked questions

**What is the inflation rate in Pakistan right now?**

10.3% year on year in September 2026, down from 11.1% in August, according to PBS figures released on 1 October 2026. Core inflation was 8.6%.

**When is the next inflation figure released?**

PBS releases monthly CPI on the first working day of the following month, so October 2026 inflation is due around 2 November 2026.

## Sources

- Monthly Review on Price Indices, September 2026 (Pakistan Bureau of Statistics): https://www.pbs.gov.pk/wp-content/uploads/2020/07/Monthly-Review-September2026.pdf
- Pakistan inflation clocks in at 10.3% in September 2026 (Business Recorder): https://www.brecorder.com/news/40442129/pakistan-inflation-clocks-in-at-103-in-september-2026
- Inflation Remains High After 3 Months (ProPakistani): https://propakistani.pk/2026/10/01/inflation-remains-high-after-3-months/
- Oil prices rise as Chinese refiners reportedly ban October fuel exports; Brent crude back above $100 (CNBC): https://www.cnbc.com/2026/10/01/oil-prices-today-wti-brent.html
- Inflation seen slowing to 10.75pc in September (Dawn): https://www.dawn.com/news/2032971/inflation-seen-slowing-to-1075pc-in-september

How to cite: "Inflation rate in Pakistan for September 2026: 10.3%, down from 11.1%", Searchable, 1 Oct 2026, https://searchable.pk/news/economy/inflation-rate-in-pakistan-september-2026