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Apr ’26 was an interesting month for inflation, with several sub-baskets and items deviating from long-term trends. Headline inflation accelerated sharply from 2.1% in Mar to 3.1%, with a major contributor being the sharp upswing in Transport, which moved from a 1.7% contraction to a 5.0% expansion in just one month. While substantial, this upswing was expected following the US–Israeli–Iranian conflict.