Pakistan’s Inflation Clocks in At 6.15% in November 2025

Pakistan’s annual inflation increased by 6.15 percent on a year-on-year (Y0Y) basis in November 2025, compared to 6.2 percent in the previous month and 4.9 percent in November 2024. On a month-on-month (MoM) basis, it rose by 0.4 percent in November 2025, compared to an increase of 1.8 percent in the previous month and 0.5 percent in November 2024. According to Topline Securities, this is lower than their estimate of 6.5-7 percent, mainly due to a decline in food inflation by 0.23 percent MoM. CPI inflation (Urban) increased by 6.1 percent YoY in November 2025, compared to 6.0 percent in the previous month and 5.2 percent in November 2024. On an MoM basis, it increased by 0.5 percent in November 2025, compared to 1.5 percent in the previous month and 0.5 percent in November 2024. CPI inflation (Rural) increased by 6.3 percent YoY in November 2025, compared to 6.6 percent in the previous month and 4.3 percent in November 2024. On an MoM basis, it rose by 0.2 percent in November 2025, compared to 2.3 percent in the previous month and 0.5 percent in November 2024. SPI inflation increased by 4.2 percent YoY in November 2025, compared to 4.8 percent a month earlier and 7.3 percent in November 2024. It rose by 0.4 percent MoM in November 2025, compared to 0.9 percent a month earlier and 1.0 percent in November 2024. WPI inflation on a YoY basis remained stable at 1.1 percent in November 2025, compared to the previous month and 2.3 percent in November 2024. It decreased by 0.2 percent MoM in November 2025, compared to an increase of 0.5 percent in the previous month and a decrease of 0.1 percent in November 2024. Measured by non-food, non-energy (Urban), it increased by 6.6 percent YoY in November 2025, compared to 7.5 percent in the previous month and 8.9 percent in November 2024. It rose by 0.3 percent MoM in November 2025, compared to 1.1 percent in the previous month and 1.2 percent in November 2024. Measured by non-food, non-energy (Rural), it increased by 8.2 percent YoY in November 2025, compared to 8.4 percent in the previous month and 10.9 percent in November 2024. It rose by 0.5 percent MoM in November 2025, compared to 1.3 percent in the previous month and 0.7 percent in November 2024. Measured by the 20 percent weighted trimmed mean (Urban), it increased by 5.3 percent YoY basis in November 2025, compared to 6.0 percent in the previous month and 7.5 percent in November 2024. It rose by 0.3 percent MoM in November 2025, compared to 0.9 percent in the previous month and 0.6 percent in November 2024. Measured by the 20 percent weighted trimmed mean (Rural), it increased by 6.4 percent YoY in November 2025, compared to 6.8 percent in the previous month and 7.8 percent in November 2024. It rose by 0.4 percent MoM in November 2025, compared to 1.4 percent in the previous month and 0.5 percent in November 2024.