Recent August CPI data showed headline inflation rising 0.4% month-over-month and core at 0.3%, exceeding expectations on the underlying measure amid a 3.9% gasoline surge that drove over one-third of the headline gain. Persistent energy price pressures from geopolitical supply shocks, combined with rising consumer inflation expectations now at 4.6% for the year ahead and softening sentiment, support trader views that September readings could hold near or edge above August levels. Market-implied odds cluster tightly around 0.4% and 0.5% MoM, reflecting uncertainty over whether fuel cost momentum will moderate or extend into the next report due October 14, while shelter and services components remain sticky. Upcoming labor market and producer price data will provide further signals ahead of the September FOMC meeting.