Group 1: Price Trends - Current consumer price structure shows significant divergence between service prices and consumer goods prices, with service prices increasing by 0.6% year-on-year in August, while consumer goods prices fell to -1.0%[5] - Core CPI has risen for four consecutive months, reaching 0.9%, contrasting with the overall CPI which has dropped back into negative growth territory[5] - The decline in overall CPI is primarily driven by temporary factors, with 60% of the downward pressure on consumer goods prices attributed to weather and 30% to the pig cycle[14] Group 2: PPI Analysis - PPI has shown improvement, particularly in upstream and midstream sectors, with the PPI for production materials seeing a year-on-year decline narrowing by 1.1 percentage points in August[23] - Upstream raw material prices have improved significantly, with a year-on-year decline narrowing by 3.1 percentage points, while downstream manufacturing and consumption prices remain relatively weak[23] - The overall recovery in PPI is characterized by a strong performance in upstream sectors and a weaker performance in downstream sectors, indicating an "up strong, down weak" trend across the industry[23] Group 3: Future Outlook - Despite recent negative CPI readings, there is an expectation for CPI to rebound within the year, supported by signs of core inflation recovery and steady service price increases[12] - The report highlights that the downward pressure on consumer goods prices is largely temporary, suggesting a potential for recovery in the latter part of the year[12] - Risks to this outlook include geopolitical tensions and unexpected increases in international oil prices[29]