May 15, 2026/Cordros Report According to the National Bureau of Statistics (NBS), the headline inflation rose for the second month in a row, increasing by 31bps to 15.69% year-on-year in April (March: 15.40% y/y). We attribute the increase primarily to the acceleration in food inflation to 16.06% y/y (March: 14.31% […]

May 14, 2026/Coronation Update Summary   We project headline CPI inflation for April 2026 at 15.95% y/y and 2.35% m/m. This would mark the second consecutive month of upward movement in the year-on-year rate, extending the cycle reversal that began in March 2026 after eleven straight months of disinflation. On a […]