Core Viewpoint - The article discusses the recent rise in U.S. inflation data for June, highlighting a year-on-year CPI increase of 2.7%, up from 2.4% in the previous month, primarily driven by a rebound in energy prices. However, core CPI growth remains moderate, indicating a complex inflationary landscape influenced by tariffs and supply chain dynamics [1][7][16]. Inflation Data Analysis - June CPI year-on-year increased by 2.7%, with a month-on-month rise of 0.3%. Energy prices rose by 0.9%, with gasoline prices contributing significantly to this increase [8][9]. - Core CPI year-on-year rose to 2.9%, with a month-on-month increase of 0.2%. The Cleveland Fed's Trimmed Mean CPI also showed a rise to 3.17% [9][10]. Core Goods and Services Pricing - Core goods prices rebounded with a month-on-month increase of 0.2% and a year-on-year increase of 0.7%, marking the second consecutive month of growth. Various core goods, such as furniture and appliances, showed significant price increases, while clothing and vehicle prices remained below trend lines [10][11]. - Core services prices increased by 0.3% month-on-month and remained stable at 3.6% year-on-year. The super core services category also saw a rise, indicating a rebound in medical and transportation service prices [14][15]. Tariff Impact and Economic Outlook - The article emphasizes that tariffs are beginning to show their impact on inflation, but the overall effect is moderate. The Federal Reserve is expected to take more time to assess these developments before making further decisions [16][17]. - The anticipated impact of tariffs on core CPI is projected to peak around 3.3% in the fourth quarter, with an estimated additional influence of about 80 basis points from tariffs [12][16]. Federal Reserve's Position - The Federal Reserve is expected to initiate interest rate cuts in the fourth quarter, with market expectations indicating a likelihood of rate cuts in September. The Fed's decision-making is influenced by the need to confirm whether inflationary impacts are temporary and whether long-term inflation expectations remain anchored [16][19]. Currency and Market Reactions - The U.S. dollar index has weakened by 9.1% since the end of last year, contributing to a rise in emerging market equities. The dollar's performance is seen as a significant variable affecting global financial markets in the second half of the year [20].

Core Viewpoint - The article discusses the importance of brand price control and the methods to maintain price order in the market, addressing issues like price discrepancies and potential internal diversion or patent infringement [1] Group 1: Price Control Strategies - Establishing a "source tracking system" is crucial for preventing diversion. Brands can add special identifiers to products, allowing them to quickly locate and penalize unauthorized sellers. For instance, a sports brand identified 12 cross-region selling stores within three months, resulting in a 70% decrease in diversion rates [2] - Brands can initiate intellectual property complaints against counterfeit or patent-infringing products. By preparing necessary documentation, such as patent certificates and comparison images, brands can effectively remove infringing listings. An electronic brand managed to eliminate over 200 infringement links in six months, leading to a 35% increase in sales of patented products [4] - Implementing a dual approach of platform rules and internal policies is essential for price control. For example, setting up price monitoring on e-commerce platforms can alert brands when prices fall below the suggested retail price. A beauty brand achieved a compliance rate of 95% among its distributors by controlling price fluctuations within 5% [5] Group 2: Overall Impact of Price Control - The essence of brand price control is to create a dual defense of "technology + rules." By ensuring traceability of each product and a quick response to infringements, the market can return to a rational order. Price control is not about limiting competition but about protecting brand value and consumer trust [5]