ChainCatcher message, Citic Securities research report states that the U.S. October CPI growth rate fully meets expectations, with most sub-item readings being moderate, stable commodity prices, and persistent service inflation, increasing the likelihood of a Federal Reserve rate cut in December this year.After Trump's victory, the outlook for U.S. commodity inflation is a concern worth noting. We expect that the overall CPI year-on-year comparison in the remaining two months of this year will be difficult to show a significant decline. Considering the gradual impact of the tariffs and immigration deportation plans proposed by Trump, the year-on-year growth rate of the overall CPI in the U.S. next year may be around 2.6%.