According to Jinshi, Brian Jacobsen, chief economist of Annex Wealth Management, said that the monthly rate of core inflation has remained at 0.4%, which is twice what is needed to achieve the inflation target. The problem of service industry inflation is not just housing inflation. Rent, utilities and corporate labor costs all appear to have risen. He further pointed out that a rate cut in June is not only not on the agenda, but may not even be discussed.
