SMM News: Huarong Securities comments on April CPI data said that the rise in food and service prices in April led to a rebound in CPI, CPI is expected to reach a high for the year in June, but it is difficult to break through 3 per cent. The current pork prices have begun a rebound cycle, the rising trend of pork prices is difficult to restrain in the short term, is expected to be the pulling factors of CPI this year, CPI will continue to rise from May to June. In the future, pig price and oil price are still the two main lines that affect the trend of CPI. It is estimated that in extreme cases where pork prices rise to a high of 30 yuan / kg at the end of the year and oil prices rise to US $80 per barrel, CPI will reach a high of 3.0 percent in June, followed by a significant pullback. CPI rose again to 3.0 per cent in December as oil prices rose sharply from a year earlier. In a neutral case, CPI peaked at 2.9 per cent in June and the second highest at 2.8 per cent at the end of the year. Overall, it is unlikely that CPI will break through 3 per cent this year.