Gate.io data on July 11th, CITIC Securities pointed out that in June, CPI was again lower than market expectations, and the pump of pork prices that exceeded seasonal trends failed to offset the weak performance of core CPI, highlighting the problem of insufficient demand on the resident side. The effect of the price increase of some public utilities in some areas, which was hotly debated in the previous period, was reflected in CPI, but the overall impact was not significant. Overall, although the maximum pressure on low prices in the year has passed, the rebound rate of price indicators may be slow in a weak demand environment. The subsequent market should pay high attention to "the degree of improvement in core CPI", "whether PPI can continue to be positive on a month-on-month basis", and "when will the GDP deflator turn positive".
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China Securities: The speed of the rise in price indicators in a weak demand environment may be slow.
Gate.io data on July 11th, CITIC Securities pointed out that in June, CPI was again lower than market expectations, and the pump of pork prices that exceeded seasonal trends failed to offset the weak performance of core CPI, highlighting the problem of insufficient demand on the resident side. The effect of the price increase of some public utilities in some areas, which was hotly debated in the previous period, was reflected in CPI, but the overall impact was not significant. Overall, although the maximum pressure on low prices in the year has passed, the rebound rate of price indicators may be slow in a weak demand environment. The subsequent market should pay high attention to "the degree of improvement in core CPI", "whether PPI can continue to be positive on a month-on-month basis", and "when will the GDP deflator turn positive".