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MHY ㅤ
看美国CPI别只看整体数据，油价下跌带来的回落只是数字表象，美联储真正关注的是剔除食品、能源后的核心通胀，压力来自房租、关税、AI相关硬件需求上涨的结构性涨价。
核心通胀环比对应三种情况：低于0.2%加息预期会放松，0.3%维持现状，超过0.4%12月加息基本确定。
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