Group 1 - The Consumer Price Index (CPI) increased by 0.4% month-on-month in July, reversing a previous decline of 0.1%, while year-on-year it remained flat [1] - The Producer Price Index (PPI) decreased by 0.2% month-on-month and saw a year-on-year decline of 3.6%, with the rate of decline consistent with the previous month [1] - The rise in CPI is attributed to the ongoing effects of domestic demand expansion policies, with prices in the service and industrial consumer goods sectors showing positive changes [1][2] Group 2 - Food prices fell by 1.6% year-on-year, influenced by a high price base from the previous year, with fresh vegetables and fruits being the main contributors to this change [1] - The core CPI, excluding food and energy prices, rose by 0.8% year-on-year, marking the highest increase since March 2024, indicating a positive signal from the consumer market [1] - Seasonal factors and uncertainties in the international trade environment have contributed to the decline in PPI, while domestic market competition has improved, leading to a narrowing of price declines in certain industries [2][3] Group 3 - The "anti-involution" policy has driven improvements in the month-on-month PPI readings, although the year-on-year figures remained unchanged, indicating a need for further demand-side policy support [3] - The ongoing consumer subsidy policies have supported durable goods prices, contributing to the sustained rise in core CPI [2] - There is a need to monitor the gradual release of the effects of "anti-involution" policies and the continuity of demand stimulation policies [2]