Inflation in Pakistan clocks in at 7.3% in March 2026

Headline Inflation YoY

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Pakistan’s headline inflation clocked in at 7.3% on a year-on-year (YoY) basis in March 2026, as shown by Pakistan Bureau of Statistics (PBS) data on Wednesday, a reading lower than the Ministry of Finance’s estimate of 7.5-8.5%.

The consumer price index (CPI) was recorded at 7% in February 2026. The CPI stood at 0.7% in March 2025.

On month-on-month basis, it increased by 1.2% in March 2026 as compared to an increase of 0.3% in the previous month and an increase of 0.9% in March 2025.

During nine months of the fiscal year, inflation stood at 5.67% against 5.25% recorded in the same period last year.

CPI inflation urban, increased by 7.4% on a year-on-year basis in March 2026 as compared to an increase of 6.8% in the previous month and an increase of 1.2% in March 2025.

On a month-on-month basis, it increased by 1.3% in March 2026 as compared to an increase of 0.3% in the previous month and an increase of 0.8% in March 2025.

Meanwhile, CPI inflation rural, increased by 7.2% on a year-on-year basis in March 2026, as compared to an increase of 7.3% in the previous month and no change observed in March 2025.

On a month-on-month basis, it increased by 1.0% in March 2026 as compared to an increase of 0.3% in the previous month and an increase of 1.1% in March 2025.

In its Monthly Economic Update & Outlook, March 2026, the Finance Division had anticipated inflation to remain within the range of 7.5-8.5% for March 2026.

“On the external front, high inflows of remittance are expected, particularly an increase in transfers associated with the Eid festival, although their trajectory will depend on economic conditions in the host countries,” it added.

Earlier, Arif Habib Limited, a brokerage house, expected inflation to settle at 7.6% YoY, compared to 0.7% YoY in March, 2025. “The higher YoY reading is largely attributable to a low base effect, as last year’s March printed a subdued number,” it added.

Similarly, JS Global, another brokerage house, anticipated inflation to clock in at 7.3%.