Core Viewpoint - The increase in prices of various goods, including coffee, audio equipment, and household items, has led to a rise in inflation in June, indicating that the costs of tariffs imposed by the Trump administration are being passed on to consumers [1][2]. Inflation Data - The overall Consumer Price Index (CPI) in the U.S. rose by 0.3% month-on-month in June, translating to an annualized rate of approximately 3.5%, compared to a mere 0.1% increase in May [1]. - The core inflation, excluding food and energy, was reported to be lower than expected, suggesting that inflation is being stabilized under Trump's administration [3]. Tariff Impact - Economists predict that the delayed effects of tariffs will accelerate inflation over the summer, with significant price increases observed in imported goods such as audio equipment, which saw a monthly increase of 1.1% and a year-on-year increase of 11.1%, marking the highest increase on record for this category [1][5]. - The impact of tariffs is expected to continue influencing inflation, with estimates suggesting that new tariffs could increase the Personal Consumption Expenditures (PCE) price level by approximately 0.4 percentage points if fully transmitted [4]. Federal Reserve Response - The Federal Reserve is cautious about interest rate cuts, with market expectations for a rate cut in September becoming uncertain due to rising inflation concerns [2][3]. - The Boston Fed President warned that rising import taxes will likely continue to push inflation higher while suppressing growth and employment [2]. Consumer Behavior - Despite rising prices, strong balance sheets for businesses and households may help absorb the shock of tariffs, potentially limiting negative impacts on the labor market and economic growth [2]. - The price increases in categories such as household goods and entertainment indicate that the effects of tariffs are gradually permeating through the economy [3][5].

Core Insights - In June, U.S. rental prices increased by 0.2%, which is lower than the increases of 0.4% in April and 0.3% in May [1] - The overall trend of rental price increases has been gradually slowing over the past three years, which is beneficial for the overall inflation level, as rent accounts for approximately 35% of the Consumer Price Index (CPI) [1] - The improvement in rental data for the month is primarily attributed to a decline in hotel prices, while residential rental prices remain stable and moderate [1] Rental Price Breakdown - The "Owner's Equivalent Rent," which measures the cost of self-owned housing, rose by 0.3%, remaining unchanged from May [1] - The "Primary Residential Rent," which pertains to rental properties, also increased by 0.2%, consistent with the figures from May [1]

Core Insights - The growth rate of housing prices in the U.S. is slowing down, primarily due to a decline in hotel prices [1] - Housing prices are a significant factor in assessing overall inflation, but the Federal Reserve uses a different index, the Personal Consumption Expenditures Price Index (PCE), which has a lower weight for housing compared to the Consumer Price Index (CPI) [1] - The upcoming Producer Price Report is expected to provide additional reference information for categories directly included in the PCE, with the PCE report to be released later this month [1]

当地时间7月15日，美国劳工统计局公布数据显示，6月美国消费者价格指数（CPI）环比增长0.3%，经 季节性调整前同比增长2.7%。当月，剔除波动较大的食品和能源价格后，核心CPI环比增长0.2%，经季 节性调整前同比增长2.9%。（央视新闻） ...

俄罗斯6月消费者价格指数同比上涨9.4%，符合预期。 俄罗斯6月CPI环比上涨0.2%，略低于预期0.23%。 俄罗斯6月核心CPI同比上涨8.7%。 俄罗斯6月核心CPI环比上涨0.3%。 ...

Group 1 - The core point of the article is that Ukraine's Consumer Price Index (CPI) increased by 14.3% year-on-year in June, slightly above market expectations of a 14.1% increase [1] Group 2 - The reported CPI growth indicates ongoing inflationary pressures within the Ukrainian economy, which may impact consumer purchasing power and overall economic stability [1] - The data suggests that inflation remains a significant concern for policymakers and could influence future monetary policy decisions [1]

Group 1 - The article discusses the upcoming Tokyo Metropolitan Assembly election on June 22, which is seen as a precursor to the national Diet's House of Councillors election in July [2][4] - Prime Minister Shigeru Ishiba's Liberal Democratic Party (LDP) is under scrutiny as it seeks to maintain its seats in the assembly, with recent polls showing a rise in Ishiba's approval ratings [4][5] - The election features a record number of candidates, with approximately 300 participants, surpassing the previous high of 271 candidates in 2021 [4] Group 2 - Key issues in the election include rising prices, the political scandal involving the LDP, and the government's response to aging and declining birth rates [5] - Ishiba has pledged to increase nominal GDP to 1,000 trillion yen by 2040 and aims for a 50% increase in average wages, which requires an annual growth rate of approximately 2.74% [7] - The government is also considering cash handouts to citizens to alleviate the impact of rising prices, particularly in response to soaring rice prices [8] Group 3 - The article highlights the challenges posed by U.S. tariffs on Japanese exports, particularly in the manufacturing sector, which has seen a decline in business confidence [9] - The confidence index for large enterprises has dropped to negative territory, with significant declines in the steel and automotive industries due to U.S. trade policies [9]

点击蓝字，关注我们 5月通胀报告出炉之际，投资者正密切关注特朗普总统加征关税是否影响消费者支付的迹 象。 亚特兰大联储主席博斯蒂克最近也表达了同样的担忧，他表示，关税政策的频繁变动"让我们更难断 言关税带来的价格上涨只是一次性事件"。 市场普遍预期美联储将在下周政策会议上维持利率不变。 5月消费者价格指数(CPI)预计将显示价格涨幅较4月略有加快。这份定于周三发布的通胀报告出炉之 际，投资者正密切关注特朗普总统加征关税是否影响消费者支付的迹象。 彭博数据显示，5月整体通胀率预计将从4月的2.3%微升至2.4%，后者是2021年2月以来最低年化涨 幅。 环比价格预计上涨0.2%，与4月涨幅持平。剔除波动较大的食品和能源成本后，5月核心CPI同 比预计上涨2.9%，略高于4月的2.8%;核心CPI环比涨幅预计为0.3%，高于4月的0.2%。 该报告反映的时间段恰逢特朗普"解放日"关税宣言冲击市场和企业的约一个月后。虽然多项报复性 关税已被暂停，但针对多数国家10%的基础关税仍然有效。 墨西哥和加拿大仍面临与芬太尼相关的关税，钢铁、铝和汽车等行业的专项关税也保持不变。对中 国商品的关税仍维持高位，实际税率徘徊在30 ...

Group 1 - The May Consumer Price Index (CPI) is expected to show a slight increase in inflation from April, with an overall inflation rate projected to rise from 2.3% to 2.4% [1][4] - Core CPI, excluding volatile food and energy prices, is anticipated to increase to 2.9% year-on-year, up from 2.8% in April, with a month-on-month rise of 0.3% [1][4] - The report coincides with the impact of President Trump's tariff declarations, with existing tariffs on various goods, including a 30% effective rate on Chinese products [4][5] Group 2 - Economists from Wells Fargo expect the May CPI report to be a critical test of how tariffs are affecting consumer prices, predicting a moderate rise in overall and core inflation [4] - Goldman Sachs anticipates that future tariffs may exert greater upward pressure on monthly inflation, projecting a core CPI month-on-month increase of around 0.35% in the coming months [4] - Concerns have been raised about the uncertainty surrounding tariff policies, which may lead to delayed inflation effects and more chaotic market responses [5][6]

Group 1 - The core point of the article is that Ukraine's Consumer Price Index (CPI) increased by 15.9% year-on-year in May, surpassing market expectations of a 15.3% increase [1]