The U.S. CPI and PPI data over the past two days have once again surged. Industrial raw material prices continue to skyrocket, and inflationary pressures are clearly re-emerging. I run a cross-border store selling camera accessories, and I’ve just received another price increase notice from my supplier due to rising copper prices. This is the second price hike this year, and both the frequency and magnitude are clearly unprecedented in recent years. Combined with the ongoing weakening of the U.S. dollar, we’re preparing to eliminate all market discounts and may consider further price increases going forward. Previously, inflation felt like just macroeconomic data and headline news—but now, I’ve personally experienced the full transmission chain: from supply chains and raw materials to exchange rates and final retail prices. In a way, this might be a small but real microcosm of why inflation is returning in this U.S. cycle.