三四月份的时候市场蔓延的都是关税带来通胀走高的言论，很少有人去把通胀拆解着去看：能源通胀、商品通胀，住房通胀、超级核心通胀。而油价、关税、消费者信心走低，影响了通胀的不同组成部分，结果就是相互起到了对冲作用。
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