Group 1 - The core viewpoint indicates that the CPI in May remains at -0.1%, reflecting a trend of negative growth in consumer prices for four out of the first five months of the year, with the market closely monitoring price trends as a key macroeconomic variable [2][3] - The PPI in May shows a year-on-year decline of 3.3%, which is a larger drop compared to the previous month's decline of 2.7%, indicating a worsening trend in producer prices [2] - The decline in CPI is primarily attributed to falling energy and food prices, with vegetable prices dropping by 8.3% year-on-year and energy prices decreasing by 6.1%, significantly impacting the overall CPI [2] Group 2 - The current price level is described as stable yet weak, with ongoing negative growth potentially having adverse effects on macroeconomic growth, leading to delayed consumer spending on major purchases and increased corporate inventory [4] - The downward trend in prices is causing actual interest rates to rise, with the one-year fixed deposit rate falling below 1%, resulting in a real interest rate of 1.05%, which may discourage private sector leverage [5] - The central bank's recent interest rate cuts aim to support the real economy and encourage investment and consumption, particularly in the real estate sector, but persistent price declines may weaken the effectiveness of these policies [6] Group 3 - To enhance price levels, it is essential to promote consumption, and addressing policy bottlenecks that affect consumer spending is crucial [7]