Group 1 - The core point of the article is that the July CPI data in the U.S. shows a year-on-year increase of 2.7%, which is lower than expected, leading to speculation about a potential interest rate cut by the Federal Reserve in September [1][2] - The July CPI data revealed a month-on-month increase of 0.2% and a year-on-year increase of 2.7%, while the core CPI increased by 0.3% month-on-month and 3.1% year-on-year, both slightly above expectations [2][5] - Housing costs were the main driver of the CPI increase, while food prices remained stable and energy prices decreased by 1.1% [5] Group 2 - The political context includes President Trump's criticism of the Labor Statistics Bureau, which has led to the dismissal of its director and the nomination of a critic as the new director [6] - Market expectations indicate a nearly 90% probability of a 25 basis point rate cut by the Federal Reserve in September, up from 74% before the report [9] - The overall market reaction to the CPI data was positive, with stock index futures rising and bond yields falling, suggesting that traders had anticipated worse inflation figures [10]