In January 2026, Pakistan's wholesale price inflation decelerated to 0.20% year-on-year, a decrease from December's 0.57%, marking the lowest level since August. The inflation rate for food, beverages, tobacco, and textiles & leather moderated (5.40% compared to last month's 5.89%), as did the rate for metal products, machinery, and equipment (1.50% compared to 1.55%). Meanwhile, deflation persisted in the agriculture, forestry, and fishery sectors (-2.68% compared to -1.66%) and in other transportable goods (-3.69% compared to -3.59%). However, the prices for ores and minerals as well as electricity, gas, and water saw a faster increase (0.47% compared to December's 0.27%). On a month-to-month basis, wholesale prices declined by 0.18%, following a 0.86% decrease in December.