# Pakistan inflation eases to 9.6% in October 2026 from 10.3% in September

Source: Searchable (https://searchable.pk/news/economy/pakistan-inflation-eases-to-96percent-in-october-2026-from-103percent-in)
Type: News article
Author: Searchable Editorial
Published: 2 Nov 2026
Updated: 2 Nov 2026
Retrieved: 2 Nov 2026

> PBS data shows headline CPI cooling for a second month, yet prices still rose 1.1% on September and the first four months of FY27 average 10.05%.

Pakistan's headline inflation was **9.6% year-on-year in October 2026**, down from 10.3% in September, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday 2 November. The reading sits inside the finance ministry's forecast range of 9.5% to 10.5% and a little above what several brokerages expected.

## What the October CPI shows

Prices still rose month on month: the consumer price index (CPI) increased **1.1% in October** after a 1.3% rise in September. A year earlier, October 2025 inflation was 6.2%, so the annual figure is cooling from a much higher base than last year.

Urban and rural readings were close:

- Urban CPI: 9.5% year-on-year (10.1% in September), and 0.8% higher than September.
- Rural CPI: 9.8% year-on-year (10.5% in September), and 1.5% higher than September.

Rural households are feeling the monthly rise more sharply, which fits the fuel and food pressures that reports from the past two weeks have described.

## The FY27 picture

Over the first four months of the 2026-27 fiscal year (July to October), CPI inflation averaged **10.05%**, against 4.79% in the same period last year. That is more than double the pace of a year ago.

The finance ministry's Monthly Economic Update projected October at 9.5% to 10.5% and said the path ahead depends on international energy prices, food supplies and base effects. Topline Securities had expected 9.0% to 9.5% for October and Insight Securities 9.3%, and Topline has said average FY27 inflation could exceed 9% if oil stays at $100 to $110 a barrel.

## What it means for you

With the SBP policy rate at 12% (see our [policy rate page](/data/sbp-policy-rate)), the gap between the rate and October inflation is about 2.4 percentage points. Fuel is the other pressure: PSO's ex-depot Karachi petrol price is tracked on our [petrol price page](/data/petrol-price).

- Check what a raise needs to be to keep pace with 9.6% using the [salary increment calculator](/tools/finance/salary-increment-calculator).
- Compare savings returns against inflation with the [National Savings calculator](/tools/finance/national-savings-calculator).
- Follow the monthly series on our [inflation data page](/data/cpi-yoy).

*Figures are from PBS as reported by Business Recorder on 2 November 2026. Weekly SPI readings, covered separately, are a different measure and can differ from the monthly CPI.*

## Frequently asked questions

**What was Pakistan's inflation rate in October 2026?**

Headline CPI inflation was 9.6% year-on-year in October 2026, down from 10.3% in September, according to PBS.

**What is the inflation average for FY27 so far?**

CPI inflation averaged 10.05% in July to October 2026, compared with 4.79% in the same four months last year.

## Sources

- Pakistan inflation clocks in at 9.6% in October 2026 (Business Recorder): https://www.brecorder.com/news/40447015/pakistan-inflation-clocks-in-at-96-in-october-2026
- Pakistan Bureau of Statistics (PBS): https://www.pbs.gov.pk/

How to cite: "Pakistan inflation eases to 9.6% in October 2026 from 10.3% in September", Searchable, 2 Nov 2026, https://searchable.pk/news/economy/pakistan-inflation-eases-to-96percent-in-october-2026-from-103percent-in