In September, the U.S. CPI quarterly ratio increased by 0.3%, compared to 3.0%, the core CPI ratio increased by 0.2%, compared to 3.0%, lower than market expectations. In terms of segmentation, the rental and second-hand car prices dragged more significantly, reflecting the weakening of related demand. The U.S. CPI speculates this is related to Trump’s restriction and expulsion immigration policies. The price of commodities affected by tariffs fell, but the rate and magnitude of the rise was lower than previously expected. This also reflects the weak end demand, and enterprises will find it difficult to transfer tariff costs to consumers. The service inflation remains strong. Overall, the inflation data is milder and supported, the U.S. Federal Reserve continues to