Group 1 - The Consumer Price Index (CPI) for June increased by 0.3% month-on-month and 2.7% year-on-year, aligning with market expectations [1] - Core CPI, excluding food and energy prices, rose by 0.2% month-on-month and 2.9% year-on-year, slightly below the market expectation of 3%, but has remained above 2.8% for four consecutive months [1] - Economists noted that ongoing trade tensions are causing tariffs to impact commodity prices, leading to price increases for certain goods, while service prices are growing at a moderate pace, offsetting some of the pressure from rising goods prices [1] Group 2 - Morgan Stanley reported that actual tariffs have increased from 2.3% at the beginning of the year to approximately 13%, potentially reaching close to 20% for the year [2] - The initial response of inflation to increased tariffs has been slow, primarily due to falling oil prices, but rising oil prices since April may drive inflation up [2] - Some companies, including Japanese automakers and luxury brands, have begun to pass on tariff costs to consumers after initially absorbing them [2] Group 3 - The Federal Reserve is expected to maintain the federal funds rate in the range of 4.25%-4.50% to observe further economic developments [1] - If inflation data remains at current levels in the coming months, the pressure on the Federal Reserve to maintain existing interest rate policies will significantly increase [1] - Historical data indicates that a weak dollar often accompanies rising import inflation, which could further elevate CPI if the dollar continues to depreciate [2]