<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Pakistan's Consumer Price Index (CPI) is expected to clock
in at 6.0% for Sep-2025. The base effect has now faded, marking a return to
normalized price trends.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect Food inflation to rise 6.0% YoY in Sep-2025 led by
hike in prices for food items including wheat and key vegetables.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">While the State Bank of Pakistan (SBP) maintained its
cautious stance and maintained policy rate at 11% in the recent MPC due to
increasing risk to key macro estimates emerging from the ongoing floods. Our
recent survey revealed that investors expect 0 to 100bps drop in Policy rate...
