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Pakistan’s consumer inflation recorded a yearly increase of 6.15% in November 2025, showing a mild upward movement in prices compared to last year, while remaining slightly below October’s reading of 6.2%. On a monthly basis, inflation inched up by 0.4%, easing from the previous month’s sharper jump of 1.8%.
Market analysts at Topline Securities noted that inflation came in lower than their projected 6.5–7% range, mainly because food prices slipped by 0.23% during the month a development that played a key role in controlling the overall rise in the CPI.
Urban inflation rose by 6.1% YoY, while rural inflation increased by 6.3%. Both indices showed slower monthly increases compared to October, reflecting relatively stable pricing trends in essential goods and services across the country.
SPI based inflation eased to 4.2% YoY, indicating some relief in weekly household items, while wholesale inflation (WPI) stayed unchanged at 1.1%, suggesting that supply-side pressures remained under control at the producer level.
Core inflation also softened in November. The non-food, non-energy (NFNE) index recorded a notable decline, with urban core inflation sliding to 6.6% and rural core inflation slipping to 8.2%. Trimmed core inflation similarly showed moderation across both segments.
Economists believe November’s data points toward improving supply management and stable fuel costs, which helped contain price acceleration. However, they caution that winter demand, global commodity fluctuations, and external financing pressures could still influence upcoming inflation cycles.
