Pakistan’s annual inflation increased to 6.15 percent in November 2025, slightly lower than October’s 6.2 percent. Compared to November 2024, when inflation stood at 4.9 percent, prices continue to rise steadily. On a month-on-month basis, inflation increased by 0.4 percent, showing a slower growth than the 1.8 percent recorded in October.
Urban areas saw a year-on-year CPI inflation of 6.1 percent in November, compared to 6.0 percent in October. Monthly urban inflation rose by 0.5 percent. Rural CPI inflation increased by 6.3 percent year-on-year, down from 6.6 percent in October, with a 0.2 percent increase on a month-to-month basis.
Sensitive Price Indicator (SPI) inflation rose by 4.2 percent year-on-year in November, lower than October’s 4.8 percent. SPI increased by 0.4 percent month-on-month, signaling moderate price changes in essential goods. Wholesale Price Index (WPI) inflation remained stable at 1.1 percent year-on-year, with a slight 0.2 percent drop month-on-month.
Inflation measured by non-food, non-energy items showed mixed trends. In urban areas, non-food, non-energy inflation increased by 6.6 percent year-on-year, compared to 7.5 percent in October. Month-on-month, it rose by 0.3 percent. Rural non-food, non-energy inflation rose by 8.2 percent year-on-year and 0.5 percent month-on-month.
Core inflation, calculated through the 20 percent weighted trimmed mean, rose by 5.3 percent year-on-year in urban areas and 6.4 percent in rural areas. Monthly core inflation increased by 0.3 percent in urban areas and 0.4 percent in rural areas.
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Topline Securities reported that lower-than-expected inflation, compared to estimates of 6.5–7 percent, was mainly due to a 0.23 percent decline in food prices month-on-month. Analysts say that while inflation remains moderate, ongoing economic pressures and global commodity trends may affect future price stability.
