U.S. inflationary pressures were slightly lower in July, as the U.S. future inflation gauge slipped to 102.9 from a downwardly revised 103.1 in June, originally reported as 103.3, according to data released Friday morning by the Economic Cycle Research Institute.

"With the USFIG dropping to an 11-month low, U.S. inflation pressures continue to ebb," ECRI Chief Operations Officer Lakshman Achuthan said in a release.

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