#通胀数据及影响# The rebound in inflation data is indeed concerning. The July PPI and service price increases exceeded expectations, indicating that inflationary pressures persist. Companies are adjusting prices to cope with tariff costs, which may impact future inflation trends. Although the job market has shown some signs of slowing, the number of initial unemployment claims remains low, suggesting that the labor market is still robust.

Currently, the market's expectations for a rate cut in September have cooled, which is reasonable. It is necessary to closely monitor subsequent data, especially regarding the transfer of corporate costs and changes in labor supply. If inflation continues to rise, the Federal Reserve may maintain the current interest rate level for a longer period.

Investors are advised to remain cautious and pay attention to high-frequency economic data and speeches by Federal Reserve officials. At the same time, it is important to note the potential impact of global economic uncertainty on the U.S. economy. In the context of unclear policy prospects, diversifying investments and controlling risks are particularly important.