External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>Pakistan’s Consumer Price Index (CPI) for Jul 2025 is expected to clock in at 3.0-3.5% YoY vs. 11.09% in Jul 2024. The MoM inflation in Jul 2025 is expected to clock in at +2.2%.</li><li>The MoM uptick is largely driven by a surge in food prices, which are estimated to increase by 3.44%. This is primarily due to notable spikes in the prices of key perishables: chicken (+30%), vegetables (+25%), onions and tomatoes (both +18%), and potatoes (+8%).</li><li>The housing, water, electricity, and gas category is also expected to rise by 2.55% MoM in July due to 6.3% increase in Liquefied Petroleum Gas (LPG) prices and the scheduled quarterly rent adjustment for the month, which we estimate at 1.7% MoM.</li></ul>

Pakistan’s Consumer Price Index (CPI) for Jul 2025 is expected to clock in at 3.0-3.5% YoY vs. 11.09% in Jul 2024. The MoM inflation in Jul 2025 is expected to clock in at +2.2%.The MoM uptick is largely driven by a surge in food prices, which are estimated to increase by 3.44%. This is primarily due to notable spikes in the prices of key perishables: chicken (+30%), vegetables (+25%), onions and tomatoes (both +18%), and potatoes (+8%).The housing, water, electricity, and gas category is also expected to rise by 2.55% MoM in July due to 6.3% increase in Liquefied Petroleum Gas (LPG) prices and the scheduled quarterly rent adjustment for the month, which we estimate at 1.7% MoM.

Pakistan Inflation To Clock In At 3.0-3.5% In Jul 2025; Due To An Uptick In Food Prices