每經(jing)AI快訊，中信證券研報(bao)指(zhi)出(chu) ，美國3月(yue)(yue)通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)讀數較(jiao)(jiao)(jiao)(jiao)符合預(yu)期(qi)，整(zheng)體CPI增速(su)進一步下(xia)降，但(dan)核(he)心(xin)(xin)通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)增速(su)仍較(jiao)(jiao)(jiao)(jiao)強(qiang)。能源項和食品項推動了3月(yue)(yue)通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)增速(su)放緩，但(dan)核(he)心(xin)(xin)服務項繼續構成通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)的黏(nian)性(xing)。預(yu)計未(wei)(wei)來核(he)心(xin)(xin)商品項通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)環比增速(su)在0%左右震蕩，而核(he)心(xin)(xin)服務項通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)同比有望(wang)出(chu)現下(xia)降趨勢，但(dan)其增速(su)下(xia)行(xing)幅度或(huo)將較(jiao)(jiao)(jiao)(jiao)為有限。由于(yu)美國核(he)心(xin)(xin)通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)壓力仍較(jiao)(jiao)(jiao)(jiao)高，核(he)心(xin)(xin)服務項通(tong)(tong)(tong)脹(zhang)(zhang)(zhang)增速(su)仍未(wei)(wei)出(chu)現明(ming)顯(xian)放緩跡象，預(yu)計美聯(lian)儲5月(yue)(yue)加息25bps，5月(yue)(yue)后停止加息的概率較(jiao)(jiao)(jiao)(jiao)高。