CPI inflation surges to 23-month high

The Consumer Price Index-based inflation surged to 11.7 percent year-on-year (YoY) in May 2026, the highest in 23 months, amid worsening Middle East tensions that have intensified energy-related pressures. According to the Monthly Review on Price Indices released here on Monday by the Pakistan Bureau of Statistics (PBS), this marks a steady escalation from the 10.9 percent reported in April 2026, pushing inflation further away from the State Bank of Pakistan’s target range of 5–7 percent. The PBS data said that CPI inflation (general) increased by 11.7 percent on a year-on-year (YoY) basis in May 2026, as compared to an increase of 10.9percent the previous month and 3.5percent in May 2025. On month-on-month (MoM) basis, it increased by 0.5percent in May 2026 as compared to an increase of 2.5percent in the previous month and a decrease of 0.2percent in May 2025.