Recent analyst forecasts from institutions including CICC, Orient Jincheng, and others converge on a September 2026 China CPI annual rate near 1.0%, up modestly from August’s 0.8% reading, citing seasonal food price gains, improved pork demand, and favorable base effects from the prior year. These projections place the outcome squarely in the 0.9-1.0% band that leads the market at 53%, while supporting the 31% probability assigned to 1.1% or higher. Persistent weak consumption and limited demand pass-through continue to cap broader upside, aligning with the lower-probability buckets below 0.9%. The data release, expected shortly, will determine resolution.