On September 5th (UTC+8), U.S. employment indicators foreshadowed that the Federal Reserve would cut interest rates in a few weeks, so now Wall Street will turn its attention to inflation. The August CPI will be released next Thursday, which is the last set of important data before the FOMC meeting. BNP Paribas economists expect the September CPI to rise from 0.2% in July to 0.4%, bringing the year-on-year CPI growth rate from 2.7% to 2.9%. They estimate that the core CPI annual rate will remain at 3.1%. Companies have largely exhausted their pre-tariff inventories, making them vulnerable to tariffs and increasing the likelihood of price pass-through to consumers. [Source: Jin10]