Group 1 - The consumer price index has not met expectations, currently at -0.1%, making it unlikely to achieve the 2% target set in the report, which is already lower than last year's 3% target [2] - Achieving the 2% target is crucial, especially in 2025, as it will be a significant year due to an unprecedented tariff war that will reshape the economy's reliance on external demand [3] - The macroeconomic strategy involves stimulating domestic consumption to counteract the effects of the tariff war, emphasizing the need for a strong internal market to avoid factory closures and unemployment [3] Group 2 - The challenge lies in boosting consumer spending, with strategies including lowering deposit rates and providing consumption subsidies, but market reactions have been tepid, leading to concerns among scholars [5] - Direct cash distribution to consumers is suggested as a more effective method to stimulate spending, allowing consumers to dictate market resource allocation rather than pushing them to buy surplus products [5][9] - The lack of positive expectations is a significant barrier to consumption and investment, with banks holding vast amounts of deposits due to a pessimistic outlook on the private economy and structural issues in income distribution [7] Group 3 - The most effective consumption stimulus policy is direct cash distribution combined with improving expectations, aiming to reduce household debt and promote consumption upgrades [9] - Addressing insufficient domestic demand is critical, especially in the context of the tariff war, as failure to do so could lead to ongoing economic risks [9]

Core Viewpoint - The U.S. Labor Department is reducing the sample size of the Consumer Price Index (CPI) across various regions, which may impact inflation measurement and economic analysis [1] Group 1 - The decision to reduce the CPI sample size indicates a shift in methodology that could affect the accuracy of inflation data [1] - This change may lead to variations in reported inflation rates, influencing economic policy and market expectations [1] - The reduction in sample size could also affect regional economic assessments and comparisons [1]

加拿大央行行长麦克勒姆：我们将密切关注接下来的两份消费者价格指数报告。 ...

据越南通讯社：越南1月至5月消费者价格指数同比上涨3.21%，工业产出同比增长8.8%。 ...

Group 1 - The US dollar strengthened against the euro, pound, and Swedish krona, while it weakened against the Swiss franc, yen, and Canadian dollar, with the dollar index rising by 0.05% to 99.328 [1] - The US international goods trade deficit for April was reported at $87.6 billion, significantly lower than the expected $143 billion and the revised $162.3 billion from March [1] - The US personal consumption expenditures price index increased by 0.1% month-on-month in April, matching market expectations, while the year-on-year increase was 2.1%, slightly below March's 2.3% [1] Group 2 - The German consumer price index for May rose by 0.1% month-on-month, below the expected 0.2% and April's 0.4%, with a year-on-year increase of 2.1% [1] - The likelihood of the European Central Bank lowering interest rates increased due to inflation data being close to the 2% target [1] - The Bank of England's external member Alan Taylor suggested that the central bank should consider lowering interest rates due to economic growth risks from the US-China trade war [2] Group 3 - Japan's consumer price index for May increased by 3.4% year-on-year, with the core index rising by 3.6%, and industrial production for April grew by 0.7%, exceeding the expected 0.1% [2] - The probability of the Bank of Japan raising interest rates by the end of the year is now estimated at 67% following the latest data [2] - Canada's GDP for March rose by 0.1%, and the annualized growth rate for the first quarter was reported at 2.2%, surpassing the expected 1.6% [2]

金十数据5月23日讯，瑞穗证券经济学家Ryosuke Katagi说，不包括波动较大的新鲜食品和能源价格在 内，日本消费者价格指数的涨幅可能会在2026年第一季度放缓至1.5%至2.0%之间。4月份所谓的核心 CPI同比上涨3.0%，而3月份的涨幅为2.9%。该指标被认为是衡量潜在通胀的指标。Katagi表示，尽管工 资上涨，但服务价格似乎没有加速上涨的迹象，而包括大米价格飙升在内的成本推动因素预计将有所缓 解。"从稳定实现2%通胀率的角度来看，它仍然缺乏力量，"他说。 日本的核心通胀率可能在2026年初降至近1.5% ...

英国4月份消费者价格指数同比上涨3.5%，预期上涨3.3%。 ...

Group 1 - The article discusses the shift in policy focus from merely stimulating consumption to increasing residents' income, indicating a significant change in economic strategy [6][8] - It highlights that wages for management positions have been raised, with an increase from 11,000 yuan to 12,000 yuan per month, reflecting a broader trend of wage growth within the system [6] - The article notes that the minimum basic pension for rural residents will increase from 123 yuan to 143 yuan per month by 2025, impacting approximately 85 million rural insured elderly [6] Group 2 - The consumer price index (CPI) has shown a weak performance, with a year-on-year increase of only 0.2% in 2023, which is significantly below the target set for 2024 [8] - The article emphasizes that merely stimulating consumption through policies has proven insufficient to meet planned targets, leading to the decision to focus on directly increasing residents' income starting in 2025 [8][10] - It discusses the dual approach to increasing residents' income, which includes market-driven distribution led by enterprises and fiscal-driven social distribution, highlighting the importance of both strategies [10] Group 3 - The article raises concerns about the sustainability of economic growth, questioning whether GDP growth is genuinely beneficial or merely a result of increasing debt levels [11] - It suggests that the effectiveness of policies aimed at increasing residents' income will depend on the efficiency of the economy and the tools available for implementation [10][11] - The need for a fair social distribution system is emphasized as a key component of improving residents' income and overall economic health [10]

Group 1 - The average tariff rate imposed by the U.S. on imported goods is currently at 17.8%, the highest level since 1934, according to the Yale Budget Lab [1] - This tariff rate has increased by 15.4 percentage points compared to the average effective tariff rate before Trump's second term [1] - The current tariff policy is expected to add $2,800 in costs for the average American household in the short term [1] Group 2 - In April, the U.S. Consumer Price Index (CPI) rose by 0.2% month-on-month, which is below the market expectation of 0.3% [1] - The year-on-year CPI increase for April was 2.3%, slightly lower than both the market expectation and the March figure of 2.4% [1] - Economists suggest that the impact of tariffs will soon be reflected in consumer prices, indicating a potential rise in import prices [1][2]

智通财经5月9日电，巴西4月消费者价格指数环比上涨0.43%，预期增长0.42%。 ...