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Pakistan's wholesale price inflation accelerated to 13.6% in April 2026, up from 6.7% in March 2026 and marking the highest level since April 2024. Price increases were broad-based, as prices of most transportable goods nearly doubled, jumping 40% from 21.4% in the previous month. Additional upward pressures were due to ores, minerals and utilities (8.6% versus 4.2%) and food, beverages, tobacco, textiles and leather products (5.4% versus 4.3%). On a monthly basis, wholesale prices increased 1.5%, up from 0.8% in March.

Pakistan Wholesale Inflation Accelerates in March

The annual inflation rate in Pakistan rose sharply to 10.9% in April 2026, up from 7.3% in March, remaining well above the State Bank of Pakistan’s target range of 5–7% and near highs last seen in 2024. Price increases were broad-based, with the strongest upward pressures coming from housing and utilities, which climbed to 16.8% from 11.5%, and food and non-alcoholic beverages, which rose to 7.6% from 3.6%. Transport costs saw a steep surge, jumping 29.9% compared to 12.5% in the previous month. On a monthly basis, consumer prices rose 2.5%, marking the fastest pace in nine months and accelerating from 1.2% in March.

Pakistan Inflation Rate at 2024-Highs

Net mortgage borrowing by UK individuals rose to £6.15 billion in March 2026, up from a revised £5.22 billion in February and exceeding market expectations of £4.2 billion. This marked the highest level in a year, surpassing the six-month average of £4.9 billion, as borrowing costs continued to decline. The annual growth rate for net mortgage lending eased to 3.0% in March from 3.4% in February. Secured gross lending increased to £28.7 billion, up from £24.0 billion in February and above the six-month average of £23.9 billion. Repayments also rose to £19.7 billion in March from £18.6 billion in February, slightly below the six-month average of £19.8 billion. The effective interest rate on newly drawn mortgages fell to 4.03% in March from 4.10% in February, while the rate on the outstanding stock of mortgages edged down to 3.93% from 3.95%.

UK Net Mortgage Borrowing Hits One-Year High

The S&P Global UK Manufacturing PMI climbed to 53.7 in April 2026 from 51 in the prior month, slightly above the preliminary estimate of 53.6. This marked the highest reading since May 2022, as output expanded for the sixth time in seven months, supported by stronger new orders, backlog clearing, and a modest build-up in finished goods inventories. New orders grew at one of the fastest rates in four years, driven by both domestic and export demand. However, supply chain strains intensified, largely due to ongoing disruption linked to the closure of Strait of Hormuz amid prolonged Middle East conflict. As a result, input prices rose at its fastest rate since June 2022, marking one of the steepest increases recorded outside the post-pandemic spike. Finally, business optimism hit a one-year low as manufacturers grew increasingly concerned about the impact of the Middle East conflict on global growth, as well as geopolitical instability and government policy.

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