Recent August CPI data printed at 0.8% year-over-year, driven by higher non-food and transport costs amid elevated energy prices, while food prices continued to weigh on the headline. Weak domestic consumption, sluggish retail sales, and persistent overcapacity have kept underlying price pressures contained, with core inflation edging only modestly higher to 1.0%. Analysts note limited pass-through from producer prices and input costs to consumers, alongside stable seasonal patterns heading into September. These dynamics support trader consensus around a modest rebound or steady reading near the recent print, with limited probability assigned to sharper moves absent major commodity or policy shifts before the October release.