The divergence in bulk prices has caused PPI and CPI to rise and fall respectively. "Export grabbing" is expected to support the performance of export growth by the end of the year, and the Federal Reserve may continue to cut interest rates by 25 basis points in December---1210 Macro Dehydration

International oil prices have fallen, and the prices in the midstream and downstream sectors have dropped excessively, limiting the rebound of inflation. It is expected that next year's PPI will have a year-on-year central tendency of -1%, and the CPI will have a year-on-year central tendency of 0.4%. In November, export growth slowed down, but "export grabbing" is expected to support performance at the end of the year. The Federal Reserve may continue to cut interest rates by 25 basis points in December, although Powell has stated that there is no rush to cut rates. It is expected that the pace of rate cuts will be maintained in the first half of 2025, and may gradually slow down in the second half of 2025