Pakistan Wholesale Inflation Slows

Pakistan's wholesale price inflation eased to 10.7% year-on-year in June 2026 from 12.7% in May. The slowdown was largely driven by softer price growth for ores, minerals, electricity, gas and water (5.7% vs. 8.5%). Meanwhile, inflation accelerated for food, beverages, tobacco, textiles and leather products (7.1% vs. 6.9%), led by leather products (19.2% vs. 16.1%). Price growth also picked up for agriculture, forestry and fishery products (1.8% vs. 1.0%) and metal products, machinery and equipment (5.7% vs. 5.2%). On a monthly basis, wholesale prices fell 1.2% in June, following a 0.8% decline in May.

Wholesale price inflation in Pakistan eased to 12.71% year-on-year in May 2026 from 13.57% in the previous month. Prices slowed in agriculture, forestry, and fishery (0.96% vs 2.77% in April), ores, minerals, and utilities (8.48% vs 8.62%), and other transportable goods (36.08% vs 39.95%). Meanwhile, costs rose in food, beverages, tobacco, textiles, and leather products (6.87% vs 5.41%), particularly leather products (16.11% vs 0.26%). Inflation in metal products, machinery, and equipment also picked up (5.22% vs 3.90%). On a monthly basis, wholesale prices declined to 0.75% in May from 5.07% in the preceding period.

Pakistan's wholesale price inflation accelerated to 13.6% in April 2026, up from 6.7% in March 2026 and marking the highest level since April 2024. Price increases were broad-based, as prices of most transportable goods nearly doubled, jumping 40% from 21.4% in the previous month. Additional upward pressures were due to ores, minerals and utilities (8.6% versus 4.2%) and food, beverages, tobacco, textiles and leather products (5.4% versus 4.3%). On a monthly basis, wholesale prices increased 1.5%, up from 0.8% in March.