According to online reports, Glenn Purves, global director of macro at BlackRock Investment Research, said that the U.S. core CPI rose less than expected in June, but there are growing signs that tariffs have driven some price increases. The May CPI report has already shown tariff-driven increases in household appliance prices, and this situation continues,"We are also now seeing early signs of rising prices for entertainment products such as video and audio equipment." He believes that most of the impact has not yet arrived and will intensify after companies run out of inventories built up in response to tariffs. With pressure coming from goods and services, inflation is likely to remain above the Fed's 2% target. Who will ultimately bear the cost of tariffs: consumers, companies or exporters will be key. (Jin Shi)