（原标题：文莱7月CPI下降0.2%） 环比来看，7月价格指数上涨0.1%。其中，食品和非酒精饮料指数上涨0.2%，非食品价格指数上涨 0.1%。具体来看，食品价格上涨主要受鱼类和海产品价格上涨（1.1%）以及非酒精饮料价格上涨 （0.9%）的影响；而非食品指数上涨则受服装鞋类（2.8%）以及餐饮酒店（0.1%）价格的推动。 文莱《婆罗洲公报》8月25日报道，7月份消费价格指数（CPI）同比下降0.2%，其中食品和非酒精 饮料指数下降0.4%，非食品指数下降0.1%。食品和非酒精饮料指数下降的主要原因是蔬菜（-5.3%）和 肉类（-2.3%）（主要是肉制品）价格的下降。非食品类价格指数的下降，主要受到两方面因素的影 响：一是机票价格下跌带动交通成本整体回落，二是受汇率变动影响，在线流媒体订阅服务费用有所降 低。 ...

Financial Data and Key Metrics Changes - The company has increased its cost-saving targets from €500 million to €625 million, indicating a focus on improving operational efficiency [6][11][12] - The management emphasizes a shift from focusing solely on gross margin percentage to prioritizing operating profit dollars, which is expected to drive better growth decisions [20][23] Business Line Data and Key Metrics Changes - The company is looking to optimize its trade investment and advertising and promotion (A&P) spending, which have been growing at a higher rate than net sales value (NSV) growth [10][12] - There is a focus on reallocating resources to enhance media scale and reach through digital channels, aiming to improve return on marketing investments [10][16] Market Data and Key Metrics Changes - The management acknowledges that the U.S. market has shown growth primarily through a few successful brands, while many others in the portfolio are struggling [33][34] - The company is tracking consumer sentiment and spending power, indicating a cautious outlook on the U.S. consumer environment for the upcoming fiscal year [39][40] Company Strategy and Development Direction - The company is undergoing a strategic review of its portfolio to identify non-core businesses for potential disposal, allowing for a more focused approach on growth areas [26][41] - There is an emphasis on understanding consumer trends and occasions to better align the product portfolio with market demands [34][36] Management's Comments on Operating Environment and Future Outlook - The management believes that moderation in alcohol consumption is a continuation of long-term trends rather than a sudden shift, influenced by macroeconomic factors [29][30] - The company is not planning for a significant improvement in the consumer environment but is focused on managing controllable factors and building a robust growth strategy [39][40] Other Important Information - The management is exploring opportunities in lower alcohol by volume (ABV) products and ready-to-drink (RTD) formats to cater to changing consumer preferences [32][33] - There is a recognition of the need to rebuild commercial execution capabilities to maintain important industry relationships while optimizing costs [13][14] Q&A Session Summary Question: How is the company finding cost savings? - The company is focusing on supply chain efficiencies and reallocating resources to drive operational savings, with an expected cost of approximately €500 million over three years to achieve these savings [7][11] Question: How will the company maintain relationships while cutting costs? - The management acknowledges the importance of relationships in the industry and plans to reinvest a portion of the savings into commercial excellence and execution to strengthen these relationships [13][14] Question: What is the company's approach to marketing spend? - The company is looking at marketing spend holistically, focusing on effective allocation based on growth potential rather than adhering to a fixed budget [16][18] Question: How does the company view the structural versus cyclical debate in the industry? - The management believes that while there are cyclical elements, the moderation trend is more structural and influenced by various factors, including economic pressures [29][30] Question: What is the outlook for the U.S. consumer? - The management does not see immediate signs of improvement in the U.S. consumer environment and is cautious in its planning for the upcoming fiscal year [39][40]