Core Viewpoint - In the first eight months of 2025, China's goods trade maintained a steady growth trend, with a total import and export value of 29.57 trillion yuan, an increase of 3.5% year-on-year [4]. Group 1: Trade Growth - The total export value reached 17.61 trillion yuan, growing by 6.9%, while the import value was 11.96 trillion yuan, showing a decline of 1.2%, with the decline narrowing by 0.4 percentage points compared to the first seven months [4]. - In August 2025, the total trade value was 3.87 trillion yuan, also growing by 3.5%, with exports at 2.3 trillion yuan (up 4.8%) and imports at 1.57 trillion yuan (up 1.7%), marking three consecutive months of growth for both exports and imports [4]. Group 2: Trade Characteristics - General trade and processing trade both saw growth, with general trade imports and exports totaling 18.89 trillion yuan (up 2.2%), accounting for 63.9% of total foreign trade, and processing trade at 5.34 trillion yuan (up 6.1%), making up 18.1% [4]. - Trade with ASEAN and the EU increased, with total trade with ASEAN reaching 4.93 trillion yuan (up 9.7%), and with the EU at 3.88 trillion yuan (up 4.3%). In contrast, trade with the US decreased by 13.5% to 2.73 trillion yuan [5]. Group 3: Enterprise Contributions - Private enterprises contributed significantly, with imports and exports totaling 16.89 trillion yuan (up 7.4%), representing 57.1% of total foreign trade, while foreign-invested enterprises accounted for 29.1% with 8.59 trillion yuan (up 2.3%). State-owned enterprises saw a decline of 8.1% to 4.02 trillion yuan [6]. Group 4: Product Export Dynamics - Mechanical and electrical products accounted for over 60% of exports, totaling 10.6 trillion yuan (up 9.2%). Notable growth was seen in integrated circuits (up 23.3% to 905.18 billion yuan) and automobiles (up 11.9% to 605.23 billion yuan) [6]. Group 5: Import Price Trends - Major commodity import prices fell, with iron ore imports at 8.02 million tons (down 1.6%) and crude oil at 3.76 million tons (up 2.5%), both experiencing price declines of 14.1% and 12.9% respectively. Meanwhile, imports of mechanical and electrical products grew by 5.2% to 4.72 trillion yuan [5][6].

Core Insights - Brazil's National Consumer Price Index (IPCA) rose by 0.26% month-on-month in July, up from 0.24% in June, indicating a slight increase in inflation pressures [1] - The annual inflation rate for the 12 months ending in July is 5.23%, a decrease of 0.12 percentage points from the previous month's 5.35% [1] Inflation Drivers - The primary driver of inflation in July was residential electricity prices, which have been a consistent factor since May and June [1] - The red flag pricing mechanism for electricity remains in effect, with an additional charge of 4.46 Brazilian Reais for every 100 kWh consumed [1] - Residential electricity prices have increased by 10.18% in the first seven months of the year, the highest increase for this period since 2018, compared to 13.78% in the same period of that year [1] Price Movements - Food and beverage prices decreased by 0.27% in July, while clothing and communication prices fell by 0.54% and 0.09%, respectively [1] - Household food prices saw a month-on-month decline of 0.69%, with significant drops in prices for potatoes (down 20.27%), onions (down 13.26%), and rice (down 2.89%) [1] - Prices for dining out increased by 0.87% [1] Additional Consumer Price Index Data - The National Consumer Price Index (INPC) rose by 0.21% month-on-month in July, with a year-to-date increase of 3.30% and a 12-month cumulative increase of 5.13% [1]

Core Insights - In July, the Consumer Price Index (CPI) in Sichuan decreased by 0.4% year-on-year, with the decline expanding by 0.1 percentage points compared to the previous month [1] - Month-on-month, the CPI shifted from flat in June to an increase of 0.4% in July [1] Price Movements - Fresh vegetable prices fell by 3.9% month-on-month, while fresh fruit prices decreased by 1.7% [1] - Pork prices saw a slight increase of 0.5% month-on-month, attributed to government initiatives aimed at reducing production capacity in the pig industry, which is expected to improve the supply-demand balance [1] Seasonal Effects - The peak travel season during summer led to price increases in various sectors, including: - Airfare prices rose by 20.1% month-on-month - Travel agency fees increased by 13.9% - Hotel accommodation prices went up by 5.0% - Transportation rental fees saw a rise of 4.8% [1]

Core Insights - In July 2025, Estonia's Consumer Price Index (CPI) increased by 5.4% year-on-year, with goods prices rising by 3.9% and services prices by 7.7% [1] Price Changes by Category - Healthcare services saw a significant price increase of 10.5% year-on-year [1] - Food and beverage prices rose by 9.1% year-on-year [1] - Entertainment and leisure prices increased by 9.0% year-on-year [1] - Transportation prices went up by 8.9% year-on-year [1] - Accommodation and dining prices rose by 5.4% year-on-year [1] - Housing prices decreased by 1.8% year-on-year [1] - Clothing and footwear prices fell by 0.9% year-on-year [1] Month-on-Month Changes - The CPI increased by 0.6% month-on-month in July [1] - Food prices rose by 0.5% month-on-month, with specific increases in meat and meat products by 2.17%, and dairy and egg prices by 2.1% [1] - Fish and fish products saw a month-on-month price decrease of 3.6%, while vegetable prices increased by 2.9% [1] - Transportation goods prices increased by 1.5% month-on-month, with gasoline prices rising by 1.3% and diesel prices by 4.5% [1]

Core Insights - The Maldives National Bureau of Statistics is set to launch the Essential Commodity Price Index (ECPI), which will focus on essential goods, differentiating it from the broader Consumer Price Index (CPI) [1] - The ECPI will cover 162 key items, including 111 household goods, 39 fruits and vegetables, 10 types of meat and seafood, and 2 energy products, with 35 items classified as critical due to their lack of substitutes or absence of government subsidies [1] - The latest CPI report indicates a year-on-year inflation rate of 3.76% as of June 2025, with food and non-alcoholic beverage prices rising by 4.64%, while certain staple prices, such as tuna and smoked fish, have decreased [1] - The food inflation rate in the Maldives is significantly higher than the CPI suggests, with a reported food inflation rate of 29.4% in June, peaking at 29.6% earlier this year, highlighting the need for targeted tools like the ECPI to accurately measure inflation pressures on household spending [1] - The ECPI will provide monthly monitoring and daily price tracking from key retail enterprises, serving as an important reference for the government to regulate prices and ensure livelihood security, enabling timely intervention in case of abnormal price fluctuations [1]

Core Insights - The Shanghai Municipal Government reported on the execution of the 2025 economic and social development plan, highlighting significant employment and income growth in the first half of the year [1] Economic Performance - A total of 331,000 new jobs were created in Shanghai during the first half of the year, achieving 55.1% of the annual target [1] - The average urban survey unemployment rate was recorded at 4.2% [1] Income Growth - Residents' disposable income reached 46,805 yuan, reflecting a year-on-year increase of 4.6% [1] - Urban and rural residents' per capita disposable income grew by 4.5% and 5.8%, respectively [1] Price Levels - The Consumer Price Index (CPI) in Shanghai saw a slight increase of 0.1% year-on-year in the first half of the year [1] - The core CPI, excluding food and energy prices, rose by 0.5% [1]

Economic Overview - In the first half of 2025, the GDP of Zhongshan reached 197.465 billion yuan, with a year-on-year growth of 3.4% at constant prices [2] - The primary industry added value was 3.663 billion yuan, growing by 6.3% year-on-year; the secondary industry added value was 101.509 billion yuan, with a growth of 3.3%; the tertiary industry added value was 92.292 billion yuan, also growing by 3.3% [2] Agricultural Sector - The total output value of agriculture, forestry, animal husbandry, and fishery in Zhongshan was 7.651 billion yuan, increasing by 6.3% year-on-year [2] - Agricultural output value was 2.595 billion yuan, with a year-on-year growth of 4.2%; fishery output value was 4.741 billion yuan, growing by 7.3% [2] Industrial Performance - The added value of large-scale industries in Zhongshan grew by 4.4% year-on-year [3] - Manufacturing sector increased by 5.0%, while the electricity, heat, gas, and water production and supply sector saw a decline of 5.9% [3] - Advanced manufacturing added value grew by 8.3%, accounting for 52.6% of large-scale industries; high-tech manufacturing increased by 19.4%, making up 18.2% of large-scale industries [3] Service Sector - The added value of the service industry increased by 3.3% year-on-year [3] - Information transmission, software, and IT services grew by 8.8%; leasing and business services increased by 6.2%; accommodation and catering services rose by 4.6% [3] - From January to May, the revenue of large-scale service industries grew by 3.6% year-on-year [3] Investment and Consumption - Fixed asset investment in Zhongshan decreased by 22.2% year-on-year [4] - Industrial investment fell by 10.1%, accounting for 49.1% of total fixed asset investment [4] - The total retail sales of consumer goods remained stable at 81.6 billion yuan, unchanged from the previous year [4] - Online retail through public networks grew by 5.7% year-on-year [4] Price Levels and Income - The Consumer Price Index (CPI) in Zhongshan remained stable, unchanged from the previous year [5] - The per capita disposable income of residents was 33,570 yuan, with a year-on-year growth of 2.5% [5] - Urban residents had a per capita disposable income of 34,697 yuan, growing by 2.2%, while rural residents had 25,485 yuan, increasing by 4.3% [5]

Economic Overview - The GDP of Zhaoqing City reached 135.8 billion yuan in the first half of 2025, with a year-on-year growth of 5.2% at constant prices [2] - The primary industry added value was 17.5 billion yuan, growing by 4.8%; the secondary industry added value was 53.6 billion yuan, growing by 4.9%; and the tertiary industry added value was 64.6 billion yuan, growing by 5.6% [2] Agricultural Performance - The agricultural, forestry, animal husbandry, and fishery sectors achieved a total output value of 30.9 billion yuan, with a year-on-year increase of 5.5% [2] - Specific growth rates included planting (4.2%), forestry (6.5%), animal husbandry (4.8%), fishery (6.4%), and auxiliary activities (10.9%) [2] - Vegetable production reached 1.446 million tons, increasing by 3.1%; live pig output was 1.746 million heads, up by 7.1%; and total aquatic products amounted to 270,400 tons, growing by 4.4% [2] Industrial Growth - The industrial added value above designated size grew by 4.5% year-on-year [3] - Manufacturing and electricity, heat, gas, and water production and supply industries both grew by 4.6%, while mining decreased by 19.0% [3] - Notable growth in specific manufacturing sectors included electrical machinery (21.8%), automotive (20.2%), and computer and electronic equipment (15.6%) [3] - Newly established industrial enterprises showed remarkable performance with a 116.9% increase in added value, contributing 2.0 percentage points to overall industrial growth [3] - Advanced manufacturing increased by 17.6%, accounting for 39.0% of the industrial added value [3] Consumer Market - The total retail sales of consumer goods reached 60.9 billion yuan, with a year-on-year growth of 2.8% [4] - Retail sales of goods were 57.3 billion yuan, growing by 2.8%, while catering revenue was 3.52 billion yuan, increasing by 2.0% [4] - Urban retail sales were 48.0 billion yuan, up by 2.8%, and rural retail sales were 12.8 billion yuan, also growing by 2.8% [4] - The "old-for-new" policy significantly boosted sales in home appliances and cultural office supplies, with increases of 152.6% and 77.3% respectively [4] - Online retail sales through public networks reached 12.3 billion yuan, growing by 10.9% [4] Investment Trends - Fixed asset investment decreased by 8.8% year-on-year [4] - Infrastructure investment, however, grew by 10.0%, while construction and industrial investments fell by 1.2% and 11.8% respectively [4] - Real estate development investment saw a significant decline of 39.2%, with commercial housing sales area dropping by 37.9% [5] Financial Sector - By the end of June, the total balance of deposits was 411.4 billion yuan, increasing by 8.3% year-on-year, while the total balance of loans was 361.6 billion yuan, growing by 7.6% [5] - The Consumer Price Index (CPI) showed a slight decrease of 0.3% year-on-year, with food prices down by 0.5% and non-food prices down by 0.8% [5]

Core Viewpoint - In June, the Consumer Price Index (CPI) in Jinan experienced a year-on-year increase of 0.2% while showing a month-on-month decrease of 0.4%. The average CPI for the first half of the year rose by 0.4% compared to the same period last year [1]. Price Changes Year-on-Year - In June, Jinan's prices showed a "five increases and three decreases" trend across eight major categories. The categories with price increases included: - Other goods and services: up 10.7% - Education, culture, and entertainment: up 5.5% - Clothing: up 1.8% - Daily necessities and services: up 0.6% - Medical care: up 0.2% - The categories with price decreases included: - Transportation and communication: down 3.7% - Food, tobacco, and alcohol: down 1.1% - Housing: down 0.9% [4]. Price Changes Month-on-Month - In June, Jinan's prices exhibited a "two increases, one stable, and five decreases" trend across eight major categories. The categories with price increases included: - Other goods and services: up 0.4% - Daily necessities and services: up 0.2% - Medical care: stable - The categories with price decreases included: - Clothing: down 1.1% - Education, culture, and entertainment: down 0.9% - Food, tobacco, and alcohol: down 0.4% - Housing: down 0.3% - Transportation and communication: down 0.2% [5]. Food Price Changes - Year-on-year food price changes included significant decreases in: - Pork: down 18.7% - Eggs: down 13.4% - Fresh fruits: down 8.0% - Cooking oil: down 5.1% - Poultry: down 3.1% - Dairy: down 1.5% - In contrast, some food items saw price increases: - Potatoes: up 9.6% - Beef: up 8.9% - Seafood: up 1.7% - Fresh vegetables: up 0.8% - Grain: up 0.1% [4].

Group 1 - The Consumer Price Index (CPI) increased by 0.1% year-on-year in June, marking a turnaround after four consecutive months of decline, primarily driven by a recovery in industrial consumer goods prices [1] - The core CPI, excluding food and energy, rose by 0.7% year-on-year, indicating a continued upward trend [1] - The Producer Price Index (PPI) decreased by 0.4% month-on-month and 3.6% year-on-year, with the year-on-year decline widening by 0.3 percentage points compared to the previous month [2] Group 2 - The decrease in PPI is attributed to seasonal declines in domestic raw material manufacturing prices, increased green electricity leading to lower energy prices, and price pressures in export-oriented industries [2] - The prices of gasoline and diesel vehicles increased by 0.5% and 0.3% month-on-month, respectively, with year-on-year declines narrowing by 1.9 and 0.4 percentage points compared to the previous month [2] - Consumption-boosting policies have led to a recovery in prices of certain living materials, while high-tech industries have seen year-on-year price increases due to the accumulation of new growth drivers [2]