Pakistan's Sensitive Price Indicator (SPI) climbed 12.31% year-on-year for the week ended November 5, 2026, with the Pakistan Bureau of Statistics (PBS) linking the sustained increase to elevated energy prices driven by ongoing Middle East tensions. The combined SPI reached 374.61, up from 333.55 in the corresponding week of last year, underscoring persistent cost pressures on households even as some weekly fuel prices eased. The year-on-year surge was led by sharp gains in energy-related items. Liquefied petroleum gas (LPG) prices soared 114.88%, electricity charges for the first quintile rose 52.38%, high-speed diesel increased 39.27%, and petrol jumped 36.34%. These rises reflect the pass-through of higher international oil prices linked to regional instability, which have kept domestic fuel and cooking costs elevated despite recent downward adjustments in retail rates. Food items also contributed, with tomatoes up 78.89%, wheat flour 33.95%, and chicken 31.81%. On a week-on-week basis, the SPI edged up a more modest 0.29% from 373.51 recorded in the previous week. Major weekly increases came from tomatoes (54.18%), LPG (3.72%), potatoes (2.07%), eggs (1.17%), and garlic (1.06%). In contrast, petrol fell 4.20% and diesel declined 2.97% during the week, providing limited relief, while pulses, sugar, and wheat flour also registered a small decrease. Out of the 51 essential items tracked across 50 markets in 17 cities, prices of 21 items rose, 10 declined, and 20 remained unchanged. The impact varied across consumption groups. The lowest expenditure quintile (Q1) saw a 0.86% weekly increase and a 10.15% year-on-year rise, while the highest quintile (Q5) recorded a 0.10% weekly gain but a higher 12.75% annual increase. The combined YoY reading of 12.31% indicates that energy-driven costs continue to weigh heavily on broader household budgets amid the Middle East-related supply and price risks. Pakistan's Consumer Price Index (CPI) eased to 9.6% year-on-year in October, compared to 10.3% in September, but remained higher than 6.2% recorded in October 2025. On a month-on-month basis, inflation slowed to 1.1% from 1.3% in September. Urban inflation declined to 9.5% year-on-year, while rural inflation stood at 9.8%. However, monthly inflation accelerated in rural areas to 1.5%, compared to 0.8% in urban areas. The Wholesale Price Index (WPI) rose to 13.8% year-on-year in October 2026, up from 13.3% in September and 1.1% a year earlier.