Analysts at TD Securities are expecting a 3.0% y/y outcome for China's CPI in September.

• “Inflation has risen over past months due largely to higher food inflation, in particular, pork prices, which were up 23.1% m/m, 47% y/y in August in the wake of the spread of African Swine Disease. This has also helped to push other meat prices higher. However, other CPI components remain soft, resulting in ex-food CPI matching its lowest reading since May 16. We expect a similar picture in September, with little sign of any let-up in the rise in pork prices.”