**Recent August CPI data at 0.8% YoY, up from July's 0.5%, has anchored trader expectations for September's annual reading near 0.9-1.0%.** Higher energy and transport costs from elevated global oil prices linked to Middle East developments drove the August rebound, while non-food items including electronics and services added support. Persistent food deflation, especially in pork and vegetables, and weak domestic demand continue to limit broader gains, keeping core inflation around 1.0%. Analyst forecasts for full-year 2026 CPI cluster in the 0.9-1.1% range, reflecting contained reflation from commodity pass-through and policy measures such as consumer goods trade-ins, offset by soft consumption and housing weakness. September data, due mid-October, will incorporate any further shifts in energy prices and seasonal factors, with the current market distribution showing the tightest clustering around the 0.9-1.0% band as the most likely outcome given these dynamics.