External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Macroeconomics

<ul><li>Pakistan’s Consumer Price Index (CPI) for Dec 2025 is expected to clock in at 5.75-6.25% YoY compared to 6.15% in Nov 2025 and 4.07% in Dec 2024.</li><li>During 2025, Inflation is likely to average 3.54%, lowest yearly inflation in a decade compared to 2024 average of 13.13%.</li><li>During Dec 2025, the MoM increase was driven by 0.75% hike in housing, water &amp; electricity, primarily led by 15% hike in LPG, and ~2.3% hike in solid fuel.</li></ul>

Pakistan’s Consumer Price Index (CPI) for Dec 2025 is expected to clock in at 5.75-6.25% YoY compared to 6.15% in Nov 2025 and 4.07% in Dec 2024.During 2025, Inflation is likely to average 3.54%, lowest yearly inflation in a decade compared to 2024 average of 13.13%.During Dec 2025, the MoM increase was driven by 0.75% hike in housing, water &amp; electricity, primarily led by 15% hike in LPG, and ~2.3% hike in solid fuel.

Pakistan Economy - Inflation To Clock In At 5.75-6.25% In Dec 2025; 2025 Inflation Likely To Be Lowest In Decade