Recent August CPI data showed a rebound to 0.8% year-on-year from July’s 0.5%, driven by higher non-food components including transport and energy costs amid global commodity movements, while food prices remained in deflation. Core inflation edged to 1.0%, and producer prices accelerated to 3.8%, reflecting input cost pressures that have not yet translated fully into consumer prices given subdued domestic demand and consumption. These mixed signals—external cost push versus persistent weakness in food and household spending—keep September outcomes clustered tightly around the 0.7–1.0% range in trader pricing. Separation could emerge from the October 14 release if seasonal travel effects fade, pork or vegetable prices shift sharply, or further energy price volatility alters the non-food contribution.