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 Aug 2025 is expected to clock in at 3.75-4.25% YoY vs. 9.63% in Aug 2024 and 4.07% in Jul 2025. The MoM inflation in Jul 2025 is expected to clock in at +0.3%.</li><li>The MoM is positive due to a rise of 2.34% in transport segment led by an increase in diesel prices by 4.7% MoM.</li><li>The food segment is expected to remain flattish, we expect -0.05% as rise of 26.2%, 15.24%, and 9.5% rise in Tomatoes, Onions and Eggs respectively is expected to be offset by decline in Fresh Fruits, Sugar, and Chicken by 9.9%, 4.7%, and 4.4%, respectively.</li></ul>

Pakistan’s Consumer Price Index (CPI) for Aug 2025 is expected to clock in at 3.75-4.25% YoY vs. 9.63% in Aug 2024 and 4.07% in Jul 2025. The MoM inflation in Jul 2025 is expected to clock in at +0.3%.The MoM is positive due to a rise of 2.34% in transport segment led by an increase in diesel prices by 4.7% MoM.The food segment is expected to remain flattish, we expect -0.05% as rise of 26.2%, 15.24%, and 9.5% rise in Tomatoes, Onions and Eggs respectively is expected to be offset by decline in Fresh Fruits, Sugar, and Chicken by 9.9%, 4.7%, and 4.4%, respectively.

Pakistan Inflation To Clock In At 3.75-4.25% In Aug 2025; MoM Inflation Is Likely At +0.3%