CPI和PPI变化对部分小盘股影响很大。Cyclical- and value-oriented sectors should get the most help if inflation keeps rising. Since 2000, rolling annual price changes for energy (0.7), producer durables (0.42), materials (0.42) and utilities (0.3) have been most correlated to year-over-year changes in PPI, while energy (0.6), materials (0.3), producer durables (0.28) and financials (0.17) are most sensitive to CPI. Conversely, growth-sectors like tech (minus 0.05) and health care (plus 0.07) show virtually no relationship with CPI, while showing modestly positive correlation to PPI.