Analysts see China’s August CPI up 0.7-0.9%

The narrow forecast range suggests consensus on stable consumer prices, but the divergence between pork-driven support and weak demand highlights a fragile balance. For markets, the CPI print will test whether inflation is truly self-sustaining or merely supply-side driven. The easing PPI path is the more consequential signal for corporate margins and downstream pricing power. What matters next is whether services spending can offset soft goods demand, and if producer price weakness starts feeding into consumer expectations.