China’s consumer price index has remained subdued through late 2026, with the latest October reading at 0.2% year-over-year following a -0.3% print in September and an 0.8% August figure. Persistent weakness in domestic demand, ongoing property-sector pressures, and food-price deflation have kept headline inflation well below 1% for much of the year, while core measures have edged only modestly higher near 1.0–1.2%. Official and analyst forecasts for the full-year average now cluster around 0.8–0.9%, reflecting limited pass-through from producer prices and cautious monetary policy. These conditions underpin trader consensus around the 0.6–1.0% outcome, with modest probabilities assigned to slightly higher or lower brackets given the potential for seasonal or policy-driven shifts before year-end.