China's September CPI is expected near 1% year-on-year, reflecting trader consensus around modest seasonal rebounds amid persistent low inflation. August's 0.8% print, up from July's 0.5%, was supported by higher energy and non-food prices tied to global crude oil movements and AI-driven demand for tech components, while food deflation continued. Pre-release forecasts from institutions such as CICC and Oriental Jincheng centered on 1.0-1.1%, citing pork price stabilization, fading weather disruptions for vegetables, and favorable base effects against last year's lows. Weak domestic consumption, property sector drag, and limited pass-through from rising PPI have kept overall readings subdued, with core CPI hovering near 1%. Recent PMI data showing manufacturing expansion and policy support for credit have reinforced expectations of contained upside rather than sharp acceleration.