巴基斯坦卡拉奇100指数 (KSE100) 加自选

巴基斯坦国家银行9月份将基准政策利率维持在11%，这是连续第二次决定保持利率不变，符合市场预期。最近的洪水摧毁了旁遮普邦的农田，扰乱了供应链，推高了小麦、大米和蔬菜的价格，并促使制造商因燃料和运输成本上升以及投入交付延误而提高销售价格。8月份整体通胀率降至3.0%，低于央行5-7%的目标区间，但食品价格上涨和极端天气造成的作物损失的潜在风险可能会限制通胀压力的进一步缓解。在GDP方面，农业损失可能会对经济增长造成压力，尽管重建工作可以部分抵消这种影响。鉴于这些不确定性，政策制定者正在维持利率，以平衡通胀风险和经济稳定。

The State Bank of Pakistan held its benchmark policy rate at 11% in September, marking the second consecutive decision to leave rates unchanged and in line with market expectations. Recent floods have devastated farmland in Punjab, disrupting supply chains, pushing up prices for wheat, rice, and vegetables, and prompting manufacturers to raise selling prices due to higher fuel and transportation costs and delays in input deliveries. Headline inflation eased to 3.0% in August, below the central bank’s 5-7% target range, but potential risks from rising food prices and crop losses from extreme weather could limit further easing of inflation pressures. On the GDP front, agricultural losses may weigh on growth, although reconstruction efforts could partially offset the impact. Given these uncertainties, policymakers are maintaining rates to balance inflation risks and economic stability.

KSE 100指数升至152170.00点的历史新高。在过去的4周里，卡拉奇证券交易所KSE100指数上涨了7.11%，在过去的12个月里，它上涨了92.98%。

KSE 100 increased to an all-time high of 152170.00 Index Points. Over the past 4 weeks, Karachi Stock Exchange KSE100 Index gained 7.11%, and in the last 12 months, it increased 92.98%.

巴基斯坦批发价格在2025年8月同比下降1.0%，比上个月的0.49%下降更为严重。下降的主要原因是农业、林业和渔业（-3.88%对7月份的-1.60%）以及矿产、电力、天然气和水（-6.06%对-3.41%）的通货紧缩加剧。相反，这些下降被食品、饮料、烟草、纺织品和皮革制品（4.94%对4.37%）以及金属制品、机械和设备（1.21%对0.48%）的更快价格增长所部分抵消，同时其他可运输商品的下降速度较慢（-2.71%对-3.40%）。8月份批发价格环比下跌0.21%，扭转了7月份1.19%的涨幅。

Pakistan’s wholesale prices fell by 1.0% year-on-year in August 2025, worsening from a 0.49% decline in the previous month. The drop was mainly driven by deeper deflation in agriculture, forestry, and fishing (-3.88% vs. -1.60% in July) and in minerals, electricity, gas, and water (-6.06% vs. -3.41%). Conversely, these declines were partially offset by faster price growth in food, beverages, tobacco, textiles, and leather products (4.94% vs. 4.37%) and in metal products, machinery, and equipment (1.21% vs. 0.48%), along with a slower decline in other transportable goods (-2.71% vs. -3.40%). On a monthly basis, wholesale prices fell 0.21% in August, reversing a 1.19% gain in July.

巴基斯坦8月份的年通货膨胀率降至3.0%，为四个月来最低，低于7月份的4.1%，这是由于几个类别的价格上涨放缓，包括服装和鞋类（8.1%对7月份的8.4%）、交通（2.5%对2.7%）、酒精饮料和烟草（3.6%对3.7%）、健康（10.6%对10.8%）、餐馆和酒店（7.2%对7.7%）以及杂项商品和服务（14.4%对14.9%），同时食品和非酒精饮料的价格下降（-1.8%对0.9%）以及娱乐和文化的进一步下降（-2.3%对-1.5%）。相比之下，家具和家用设备维护（3.5%对3.3%）和教育（10.9%对10.2%）的价格加速上涨，而住房和公用事业的价格稳定在3.6%。按月计算，8月份消费者价格指数下跌0.6%，扭转了7月份2.9%的涨幅。

Pakistan’s annual inflation eased to 3.0% in August, the slowest in four months, slowing from 4.1% in July, driven by slower price increases across several categories, including clothing and footwear (8.1% vs. 8.4% in July), transport (2.5% vs. 2.7%), alcoholic beverages and tobacco (3.6% vs. 3.7%), health (10.6% vs. 10.8%), restaurants and hotels (7.2% vs. 7.7%), and miscellaneous goods and services (14.4% vs. 14.9%), alongside a decline in food and non-alcoholic beverages (-1.8% vs. 0.9%) and a further drop in recreation and culture (-2.3% vs. -1.5%). In contrast, prices accelerated in furnishing and household equipment maintenance (3.5% vs. 3.3%) and education (10.9% vs. 10.2%), while housing and utilities remained stable at 3.6%. On a monthly basis, consumer prices fell 0.6% in August, reversing the 2.9% increase in July.