CITIC Securities: It is expected that the pressure of further upward inflation in the United States in the future can be controlled.

According to the research report of CITIC Securities, the year-on-year growth rate of the US CPI in December decreased to 2.7%, consistent with market expectations, while the core CPI year-on-year growth rate was 2.6%, slightly lower than the market expectation of 2.7%, and the core CPI month-on-month growth rate was 0.2%, lower than the market expectation of 0.3%. Overall, although there are short-term disturbances in inflation in the US food and energy sectors, with the current weak employment situation and the gradually decreasing impact of tariffs in the US, it is expected that the pressure on further inflationary rise in the US can be controlled.