Group 1 - The core viewpoint of the report indicates that measures to address the price war have not yet fully taken effect, with both CPI and PPI showing weak year-on-year performance [1] - Looking ahead, if CPI and PPI continue to improve on a month-on-month basis, the year-on-year growth rate is expected to gradually improve in the second half of the year due to the impact of a low base [1] - If production restriction measures escalate from industry self-discipline to national ministry level, the slope of price level recovery will become steeper [1] Group 2 - Overall, the first data on foreign trade and prices for the second half of the year reflects a situation that is better than expected, with stable growth in exports and continuous improvement in import demand [1] - The rebound in month-on-month price growth reflects the effects of previous policies [1] - The continuation of policies aimed at increasing residents' income and reducing burdens in the second half of the year will help alleviate the impact of declining investment demand on the economy [1]