Exchange rate dynamics play a critical role in shaping price stability and inflationary trends, particularly in emerging economies characterized by high import dependence and external vulnerability. Exchange rate pass-through (ERPT) refers to the extent to which fluctuations in exchange rates are transmitted to import prices and subsequently to domestic inflation. At a broader level, understanding ERPT is essential for evaluating the effectiveness of monetary policy and macroeconomic stability, as it influences trade balances, purchasing power, and inflation expectations. This study conducts an econometric analysis of exchange rate pass-through to import prices and inflation in emerging economies, employing advanced time-series and panel data techniques to capture both short-run and long-run dynamics. The analysis incorporates models such as vector autoregression (VAR), error correction models (ECM), and generalized method of moments (GMM) to estimate the magnitude and speed of pass-through effects under varying economic conditions. The findings reveal that ERPT is often incomplete and asymmetric, with stronger transmission during periods of high inflation and currency depreciation. Structural factors such as market competition, trade openness, and monetary credibility significantly influence pass-through intensity. The study provides policy-relevant insights for central banks aiming to manage inflation and stabilize exchange rates in emerging markets.